Section 735(6)

There shall be paid in priority to any amount that the company is liable under subsection (4) to pay in respect of any shares— all other debts and liabilities of the company (other than any due to members in their character as such), and if other shares carry rights (whether as to capital or as to income) that are preferred to the rights as to capital attaching to the first-mentioned shares, any amount due in satisfaction of those preferred rights. Subject to that, any such amount shall be paid in priority to any amounts due to members in satisfaction of their rights (whether as to capital or income) as members.

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