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Version status: In force | Document consolidation status: Updated to reflect all known changes
Version date: 1 June 2015 - onwards
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559. Interpretation (Part 11)

(1) In this Part -

"connected person" means a person who, at the time the transaction in relation to the company concerned was carried out, was - (a) a director of the company; (b) a shadow director of the company; (c) a person connected, within the meaning of section 220, with a director of the company; (d) a related company; or (e) any trustee of, or surety or guarantor for the debt due, to any person referred to in paragraph (a), (b), (c) or (d);

"contributory" means every person liable to contribute to the assets of a company in the event of its being wound up, and subsection (2) supplements this definition;

"creditors' voluntary winding up" means a voluntary winding up in the circumstances specified in section 562(1)(b);

"members' voluntary winding up" means a voluntary winding up in the circumstances specified in section 562(1)(a) or (2);

"property" means all real and personal property, and includes any right of action by the company or liquidator under the provisi

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