The liability of a contributory creates a debt (in England and Wales in the nature of an ordinary contract debt) accruing due from him at the time when his liability commenced, but payable at the times when calls are made for enforcing the liability.
Section 80: Nature of contributory's liability.
Insolvency Act 1986 · 1986 c. 45View on legislation.gov.uk
Part IV: Winding Up of Companies Registered under the Companies Acts — Chapter I: Preliminary
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