Section 901A(3)

Condition B is that— a compromise or arrangement is proposed between the company and— its creditors, or any class of them, or its members, or any class of them, and the purpose of the compromise or arrangement is to eliminate, reduce or prevent, or mitigate the effect of, any of the financial difficulties mentioned in subsection (2).

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