268 Definition of “inability to pay”, etc; the statutory demand
Insolvency Act 1986 (1986 c 45) | Legislation

268  Definition of “inability to pay”, etc; the statutory demand

(1)     For the purposes of section 267(2)(c), the debtor appears to be unable to pay a debt if, but only if, the debt is payable immediately and either—

(a)     the petitioning creditor to whom the debt is owed has served on the debtor a demand (known as “the statutory demand”) in the prescribed form requiring him to pay

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