267. Inability to pay debts: unpaid creditor for $2,000 or more

(1) An unregistered company is deemed (for the purpose of Section 266 (Winding-up of unregistered companies)) unable to pay its debts if there is a creditor, by assignment or otherwise, to whom the unregistered company is indebted in a sum exceeding $2,000 then due and —
(a) the creditor has served on the unregistered company, by leaving at its principal place of business, or by delivering to the secretary or some Director, manager or principal officer of the unregistered company, or by otherwise serving in such manner as the Court may approve or direct, a written demand in the prescribed form requiring the unregistered company to pay the sum due; and
(b) the unregistered company has for three (3) weeks after the service of the demand neglected to pay the sum or to secure or compound for it to the creditor's satisfaction.
(2) The money sum of the time being specified in subsection (1) is subject to increase or reduction by these Regulations; but no increase in the sum so specified affects any case in which the winding-up petition was presented before the coming into force of the increase.