Section 727(2)

In subsection (1)(a) “cash consideration” means— cash received by the company, or a cheque received by the company in good faith that the directors have no reason for suspecting will not be paid, or a release of a liability of the company for a liquidated sum, or an undertaking to pay cash to the company on or before a date not more than 90 days after the date on which the company agrees to sell the shares, 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. For this purpose “cash” includes foreign currency.

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