Section 643(1)

A solvency statement is a statement that each of the directors— has formed the opinion, as regards the company's situation at the date of the statement, that there is no ground on which the company could then be found to be unable to pay (or otherwise discharge) its debts; and has also formed the opinion— if it is intended to commence the winding up of the company within twelve months of that date, that the company will be able to pay (or otherwise discharge) its debts in full within twelve months of the commencement of the winding up; or in any other case, that the company will be able to pay (or otherwise discharge) its debts as they fall due during the year immediately following that date.

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