Amendment of the Companies Act 1985
This section has no associated Explanatory Memorandum
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)