{
  "url": "https://openlegislation.uk/companies-tables-a-to-f-regulations-1985/schedule/part-1/paragraph-117",
  "json_url": "https://openlegislation.uk/companies-tables-a-to-f-regulations-1985/schedule/part-1/paragraph-117.json",
  "legislation": "uksi/1985/805",
  "legislation_title": "The Companies (Tables A to F) Regulations 1985",
  "legislation_url": "https://openlegislation.uk/companies-tables-a-to-f-regulations-1985",
  "path": "schedule/part/1/paragraph/117",
  "kind": "paragraph",
  "number": "117",
  "heading": null,
  "text": "If the company is wound up, the liquidator may, with the sanction of a special resolution of the company and any other sanction required by the Act, divide among the members in specie the whole or any part of the assets of the company and may, for that purpose, value any assets and determine how the division shall be carried out as between the members or different classes of members. The liquidator may, with the like sanction, vest the whole or any part of the assets in trustees upon such trusts for the benefit of the members as he with the like sanction determines, but no member shall be compelled to accept any assets upon which there is a liability.",
  "extent": "E+W+S",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Words in Sch. Table A reg. 117 substituted (1.10.2007) by The Companies (Tables A to F) (Amendment) Regulations 2007 (S.I. 2007/2541), regs. 1, 7(2)"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/1985/805/schedule/part/1/paragraph/117",
    "retrieved_at": "2026-10-29T17:10:18.047470+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}