Section 78

This section applies in the case of a company being wound up which was at some former time registered as limited but has been re-registered as unlimited . . . . A person who, at the time when the application for the company to be re-registered was lodged, was a past member of the company and did not after that again become a member of it is not liable to contribute to the assets of the company more than he would have been liable to contribute had the company not been re-registered.

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