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The Companies (Reduction of Capital) (Creditor Protection) Regulations 2008
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- UK Statutory Instruments
- 2008 No. 719
- Regulation 2
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Amendment of the Companies Act 1985
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2. In section 136(3) of the Companies Act 1985(1) (application to court for order confirming reduction of share capital: creditors entitled to object)—
(a)after “who” insert “— (a)”, and
(b)after “admissible in proof against the company” insert—
“, and
(b)can show that there is a real likelihood that the reduction would result in the company being unable to discharge his debt or claim when it fell due,”.
(1)
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