Section 583(3)

A “cash consideration” means— cash received by the company, a cheque received by the company in good faith that the directors have no reason for suspecting will not be paid, a release of a liability of the company for a liquidated sum, an undertaking to pay cash to the company at a future date, or payment by any other means giving rise to a present or future entitlement (of the company or a person acting on the company's behalf) to a payment, or credit equivalent to payment, in cash.

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