Paragraph 3 Register of members: time limit for claims arising from entry (s.128)I1
United Kingdom
(1)
Section 128 of the Companies Act 2006 (ten year time limit for claims arising from entry in register of members) applies to causes of action arising on or after 6th April 2008.
(2)
The time limit for causes of action arising before that date is—
(a)
ten years from 6th April 2008, or
(b)
20 years (as provided by section 352(7) of the 1985 Act or Article 360(7) of the 1986 Order) from when the cause of action arose,
whichever expires first.
(3)
This is without prejudice to any lesser period of limitation (and, in Scotland, to any rule that the obligation giving rise to the liability prescribes before the expiry of that period).
Annotations
Commencement
- I1
Sch. 4 para. 3 in force at 6.4.2008, see art. 2(2)