When is the deadline for 21 day payment period stated in the statutory demand?
The catalogue records a 21 days period from Date upon which the statutory demand was served on the company. This draft page remains free only until its source, worked example and limits are reviewed.
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Calculation basis and source
- Period
- 21 days
- Trigger
- Date upon which the statutory demand was served on the company
- Counting
- The encoded calculator method must be independently documented before publication.
- Rollovers and holidays
- Holiday, closure and order treatment must be independently documented before publication.
This route remains in preparation until a pinpoint official source is recorded.
- This is the period that must be stated on the face of the demand (CWR Form No 1). It sits alongside, and is the practical expression of, the 'three weeks' in section 93(a) of the Companies Act. The demand must also state the amount, the due date, the currency and the consideration for the debt (CWR O.2 r.2(3)) and give payment and wire transfer details (O.2 r.2(7)).