Section 36(3)

In subsection (2) above “the outstanding amount” means— and in this subsection “received” means received either by the claimant or by a person to whom has been assigned a right to receive the whole or any part of the consideration written off. if at the time of the claim no part of the consideration written off in the claimant’s accounts as a bad debt has been received, an amount equal to the amount of the consideration so written off; if at that time any part of the consideration so written off has been received, an amount by which that part is exceeded by the amount of the consideration written off;

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Source: legislation.gov.uk · retrieved 2026-07-28