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Section 122: Circumstances in which company may be wound up by the court.

Insolvency Act 1986 · 1986 c. 45View on legislation.gov.uk

Part IV: Winding Up of Companies Registered under the Companies Acts — Chapter VI: Winding Up by the Court

A company may be wound up by the court if—

the company has by special resolution resolved that the company be wound up by the court,
being a public company which was registered as such on its original incorporation, the company has not been issued with a trading certificate under section 761 of the Companies Act 2006 (requirement as to minimum share capital) and more than a year has expired since it was so registered,
it is an old public company, within the meaning of the Schedule 3 to the Companies Act 2006 (Consequential Amendments, Transitional Provisions and Savings) Order 2009,
the company does not commence its business within a year from its incorporation or suspends its business for a whole year;
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
the company is unable to pay its debts,
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
the court is of the opinion that it is just and equitable that the company should be wound up.

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This legislation text comes from legislation.gov.uk. Contains public sector information licensed under the Open Government Licence v3.0. These source and reuse terms cover the legislation text, not Remedy's commentary.

Reuse reviewed 21 August 2026 under Open Government Licence v3.0.