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Changes over time for: Section 216


Llinell Amser Newidiadau
This timeline shows the different points in time where a change occurred. The dates will coincide with the earliest date on which the change (e.g an insertion, a repeal or a substitution) that was applied came into force. The first date in the timeline will usually be the earliest date when the provision came into force. In some cases the first date is 01/02/1991 (or for Northern Ireland legislation 01/01/2006). This date is our basedate. No versions before this date are available. For further information see the Editorial Practice Guide and Glossary under Help.
Status:
Point in time view as at 03/10/2022.
Changes to legislation:
Companies Act 2006, Section 216 is up to date with all changes known to be in force on or before 06 March 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.

Changes to Legislation
Changes and effects yet to be applied by the editorial team are only applicable when viewing the latest version or prospective version of legislation. They are therefore not accessible when viewing legislation as at a specific point in time. To view the ‘Changes to Legislation’ information for this provision return to the latest version view using the options provided in the ‘What Version’ box above.
216Amounts taken to be payments for loss of officeU.K.
This
adran has no associated
Nodiadau Esboniadol
(1)This section applies where in connection with any such transfer as is mentioned in section 218 or 219 (payment in connection with transfer of undertaking, property or shares) a director of the company—
(a)is to cease to hold office, or
(b)is to cease to be the holder of—
(i)any other office or employment in connection with the management of the affairs of the company, or
(ii)any office (as director or otherwise) or employment in connection with the management of the affairs of any subsidiary undertaking of the company.
(2)If in connection with any such transfer—
(a)the price to be paid to the director for any shares in the company held by him is in excess of the price which could at the time have been obtained by other holders of like shares, or
(b)any valuable consideration is given to the director by a person other than the company,
the excess or, as the case may be, the money value of the consideration is taken for the purposes of those sections to have been a payment for loss of office.
Modifications etc. (not altering text)
Commencement Information
Yn ôl i’r brig