Saving for unlimited liabilities of directors etcU.K.
This section has no associated Explanatory Memorandum
9. The repeal of the provisions relating to unlimited liability of directors and others, that is—
(a)sections 306 and 307 of the Companies Act 1985 M1 and section 75 of the Insolvency Act 1986, or
(b)Articles 314 and 315 of the Companies (Northern Ireland) Order 1986 M2 and Article 62 of the Insolvency (Northern Ireland) Order 1989,
does not affect the operation of those provisions in relation to liabilities arising before 1st October 2009 or in connection with the holding of an office to which a person was appointed before that date on the understanding that their liability would be unlimited.