Companies Act 2014
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CHAPTER 4 Liability of third parties for debts of a company in examination | ||
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What this Chapter contains | ||
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545. This Chapter contains provisions— | ||
(a) specifying the effect on the liability of a person (under a guarantee or otherwise) to another person in respect of a debt of a company in examination under this Part where a compromise or scheme of arrangement takes effect in relation to the latter; | ||
(b) restricting the enforcement of that liability by that other person unless a certain procedure is employed; and | ||
(c) providing for other matters relating to the foregoing (including a saver for cases falling within section 520 (4)(f) or where, by operation of any rule of law, a discharge or release of the first-mentioned person's liability occurs). |