Section 589(3)

In the case of a liability within subsection (2)(a), the court may exempt the applicant from the liability only if and to the extent that it appears to the court just and equitable to do so having regard to— whether the applicant has paid, or is liable to pay, any amount in respect of— any other liability arising in relation to those shares under any provision of this Chapter or Chapter 6, or any liability arising by virtue of any undertaking given in or in connection with payment for those shares; whether any person other than the applicant has paid or is likely to pay, whether in pursuance of any order of the court or otherwise, any such amount; whether the applicant or any other person— has performed in whole or in part, or is likely so to perform any such undertaking, or has done or is likely to do any other thing in payment or part payment for the shares.

← 2 · All articles · 4 →

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