| Commentary

229 Consent

| Commentary

229 Consent

If a company is being, or is about to be, wound up voluntarily, its liquidator may sell the whole or part of its business or property to another company in consideration of shares, policies or other like interests in that other company being issued for distribution among the members of the original company, or in consideration of any other arrangement under which the members of the original company may participate in the profits of, or receive any other benefit from, the transferee company1. Where the winding up of the original company is a members’ voluntary winding up, this

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