| Commentary

230 Meaning of ‘contributory’

| Commentary

(b) Contributories

230 Meaning of ‘contributory’

The expression ‘contributory’ is defined by the Insolvency Act 1986 to mean every person liable to contribute to the assets of a company in the event of its being wound up, and for the purposes of all proceedings for determining, and all proceedings prior to the final determination of, the persons who are to be deemed contributories includes any person alleged to be a contributory1. The definition includes the holders of fully-paid shares2. The representatives of a deceased contributory3 and the trustee in bankruptcy of a bankrupt contributory4

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