Section 193

This section applies to a company— that is being wound up (unless the winding up is a members' voluntary winding up), or 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)). Approval is not required under section 190 (requirement of members' approval for substantial property transactions)— on the part of the members of a company to which this section applies, or for an arrangement entered into by a company to which this section applies.

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