Section 224(1)

An unregistered company is deemed (for purposes of section 221) unable to pay its debts— if in England and Wales execution or other process issued on a judgment, decree or order obtained in any court in favour of a creditor against the company, or any member of it as such, or any person authorised to be sued as nominal defendant on behalf of the company, is returned unsatisfied; if in Scotland the induciae of a charge for payment on an extract decree, or an extract registered bond, or an extract registered protest, have expired without payment being made; if in Northern Ireland a certificate of unenforceability has been granted in respect of any judgment, decree or order obtained as mentioned in paragraph (a); if it is otherwise proved to the satisfaction of the court that the company is unable to pay its debts as they fall due.

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