Companies Act 2006 (c. 46)

Part 10 A company’s directors

Chapter 4 Transactions with directors requiring approval of members

Substantial property transactions

193 Exception 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.