110 Acceptance of shares, etc, as consideration for sale of company property
110 Acceptance of shares, etc, as consideration for sale of company property

(1)     This section applies, in the case of a company proposed to be, or being, wound up voluntarily, where the whole or part of the company's business or property is proposed to be transferred or sold

[(a)]     to another company (“the transferee company”), whether or not the latter is a [company registered under the Companies Act 2006][, or

(b)     to a limited liability partnership (the “transferee limited liability partnership”)].

(2)     With the requisite sanction, the liquidator of the company being, or proposed to be, wound up (“the transferor company”) may receive, in compensation or part compensation for the transfer or [sale—

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