For the purposes of any provision in this Group of Parts, a person who is not a member of a company but to whom shares in the company have been transferred, or transmitted by operation of law, is to be regarded as a member of the company, and references to a member or members are to be read accordingly.
Definitions used in section 250 1
- the company
2 Section 233B does not apply in relation to a contract for the supply of goods or services to a company (“the company”) where any of paragraphs 3 to 11 applies.
Defined in Sch.4ZZA para.2 · see it in the full Act
Cases considering section 250 3
Daniel McAteer v Hat & Mitre Plc (in creditors’ voluntary liquidation) & Ors
Interprets section 250 as deliberately extending the concept of member to an unregistered transferee of shares. That extended status made the appellant a contributory for the purposes of sections 112 and 147 (see paras [44]-[50]).
Warwick & Anor (Joint Liquidators)
Limits the statutory extension treating transferees or persons receiving shares by operation of law as members to cases involving shares. It does not apply to membership of a company limited by guarantee. (see paras [20]-[23], [26])
In the matter of Torotrak Plc (in liquidation)
The court applies the wider insolvency definition of member, including persons to whom shares have been transferred or transmitted by operation of law. (see para [26])
What each judgment says about section 250 is in the case-law panel in the full Act.
Amendments and notes
1 notes from legislation.gov.uk
Modifications
- C908S. 250 excluded (E.W.) (31.1.2019) by The Further Education Bodies (Insolvency) Regulations 2019 (S.I. 2019/138), regs. 1(1), 22 (with regs. 1(2), 3(a)(ii))