Companies Act 1993

If you need more information about this Act, please contact the administering agency: Ministry of Business, Innovation, and Employment
386B Definitions for purpose of phoenix company provisions

(1)

In sections 386A to 386F,—

director of a failed company means a person who was a director of a failed company at any time in the period of 12 months before the commencement of its liquidation, and director of the failed company has a corresponding meaning

failed company means a company that was placed in liquidation at a time when it was unable to pay its due debts

phoenix company means, in relation to a failed company, a company that, at any time before, or within 5 years after, the commencement of the liquidation of the failed company, is known by a name that is also—

(a)

a pre-liquidation name of the failed company; or

(b)

a similar name

pre-liquidation name means any name (including any trading name) of a failed company in the 12 months before the commencement of that company’s liquidation

similar name means a name that is so similar to a pre-liquidation name of a failed company as to suggest an association with that company.

(2)

For the purposes of sections 386A to 386F, a company is known by a name if that name is its registered name or if it carries on business, or carries on a part of its business, under that name.

Compare: Insolvency Act 1986 s 216(6) (UK)

Section 386B: inserted, on 1 November 2007, by section 35 of the Companies Amendment Act 2006 (2006 No 56).