Section 220(3)

In relation to a payment within section 218 or 219 (payment in connection with transfer of undertaking, property or shares) an existing legal obligation means an obligation of the person making the payment that was not entered into for the purposes of, in connection with or in consequence of, the transfer in question.

← 2 · All articles · 4 →

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