Section 1163

In the Companies Acts “non-cash asset” means any property or interest in property, other than cash. For this purpose “cash” includes foreign currency. A reference to the transfer or acquisition of a non-cash asset includes— the creation or extinction of an estate or interest in, or a right over, any property, and the discharge of a liability of any person, other than a liability for a liquidated sum.

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