The First Group of PartsCompany Insolvency ; Companies Winding Up
PART IVWinding Up of Companies Registered under the Companies Acts
CHAPTER IPreliminary
Contributories
78Unlimited company formerly limited
(1)
This section applies in the case of a company being wound up which was at some former time registered as limited but has been re-registered as unlimited under section 49 of the Companies Act (or the former corresponding provision, section 43 of the Companies Act 1967).
(2)
A person who, at the time when the application for the company to be re-registered was lodged, was a past member of the company and did not after that again become a member of it is not liable to contribute to the assets of the company more than he would have been liable to contribute had the company not been re-registered.