Section 120(3)

Where the amount of a company’s share capital paid up or credited as paid up does not exceed £120,000, the sheriff court of the sheriffdom in which the company’s registered office is situated has concurrent jurisdiction with the Court of Session to wind up the company; but— the Court of Session may, if it thinks expedient having regard to the amount of the company’s assets to do so— remit to a sheriff court any petition presented to the Court of Session for winding up such a company, or require such a petition presented to a sheriff court to be remitted to the Court of Session; and the Court of Session may require any such petition as above mentioned presented to one sheriff court to be remitted to another sheriff court; and in a winding up in the sheriff court the sheriff may submit a stated case for the opinion of the Court of Session on any question of law arising in that winding up.

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Source: legislation.gov.uk · retrieved 2026-09-04