Section 661(3)

If in proceedings for the recovery of an amount under subsection (2) it appears to the court that the subscriber or director— the court may relieve him, either wholly or in part, from his liability on such terms as the court thinks fit. has acted honestly and reasonably, and having regard to all the circumstances of the case, ought fairly to be relieved from liability,

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