Section 589(5)

In determining whether it should exempt the applicant in whole or in part from any liability, the court must have regard to the following overriding principles— a company that has allotted shares should receive money or money's worth at least equal in value to the aggregate of the nominal value of those shares and the whole of any premium or, if the case so requires, so much of that aggregate as is treated as paid up; subject to that, where a company would, if the court did not grant the exemption, have more than one remedy against a particular person, it should be for the company to decide which remedy it should remain entitled to pursue.

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