Section 847(2)

If at the time of the distribution the member knows or has reasonable grounds for believing that it is so made, he is liable— to repay it (or that part of it, as the case may be) to the company, or in the case of a distribution made otherwise than in cash, to pay the company a sum equal to the value of the distribution (or part) at that time.

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