Section 110(2)

With the requisite sanction, the liquidator of the company being, or proposed to be, wound up (“the transferor company") may receive, in compensation or part compensation for the transfer or sale— in the case of the transferee company, shares, policies or other like interests in the transferee company for distribution among the members of the transferor company, or in the case of the transferee limited liability partnership, membership in the transferee limited liability partnership for distribution among the members of the transferor company.

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Source: legislation.gov.uk · retrieved 2026-09-04