C5Part 10A company's directors

Annotations:
Modifications etc. (not altering text)

Chapter 4Transactions with directors requiring approval of members

Substantial property transactions

I1C4193C1C2C3Exception in case of company in winding up or administration

1

This section applies to a company—

a

that is being wound up (unless the winding up is a members' voluntary winding up), or

b

that is in administration within the meaning of Schedule B1 to the Insolvency Act 1986 (c. 45) or the Insolvency (Northern Ireland) Order 1989 (S.I. 1989/2405 (N.I. 19)).

2

Approval is not required under section 190 (requirement of members' approval for substantial property transactions)—

a

on the part of the members of a company to which this section applies, or

b

for an arrangement entered into by a company to which this section applies.