C6C5Part 10A company's directors

Annotations:
Modifications etc. (not altering text)
C6

Pts. 1-39 modified (31.12.2020) by Regulation (EC) No. 2157/2001, Art. AAA1(3) (as inserted by The European Public Limited-Liability Company (Amendment etc.) (EU Exit) Regulations 2018 (S.I. 2018/1298), regs. 1, 97 (with regs. 140-145) (as amended by S.I. 2020/523, regs. 1(2), 5(a)-(f)); 2020 c. 1, Sch. 5 para. 1(1))

Chapter 4Transactions with directors requiring approval of members

Substantial property transactions

I1C4C7193C3C2C1Exception 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.