Section 214(2)

This subsection applies in relation to a person if— the company has gone into insolvent liquidation, at some time before the commencement of the winding up of the company, that person knew or ought to have concluded that there was no reasonable prospect that the company would avoid going into insolvent liquidation or entering insolvent administration, and that person was a director of the company at that time; but the court shall not make a declaration under this section in any case where the time mentioned in paragraph (b) above was before 28th April 1986.

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