Section 246ZB(2)

This subsection applies in relation to a person if— the company has entered insolvent administration, at some time before the company entered administration, that person knew or ought to have concluded that there was no reasonable prospect that the company would avoid entering insolvent administration or going into insolvent liquidation, and the person was a director of the company at that time.

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