Section 448C(3)

A guarantee given under this section has the effect that— the parent undertaking guarantees all outstanding liabilities to which the subsidiary company is subject at the end of the financial year to which the guarantee relates, until they are satisfied in full, and the guarantee is enforceable against the parent undertaking by any person to whom the subsidiary company is liable in respect of those liabilities.

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