# Companies Act 2006, Section 681: Unconditional exceptions

Extent: E+W+S+N.I.

(1) Neither section 678 nor section 679 prohibits a transaction to which this section applies.
(2) Those transactions are—
(a) a distribution of the company's assets by way of—
(i) dividend lawfully made, or
(ii) distribution in the course of a company's winding up;
(b) an allotment of bonus shares;
(c) a reduction of capital under Chapter 10 of Part 17;
(d) a redemption of shares under Chapter 3 or a purchase of shares under Chapter 4 of this Part;
(e) anything done in pursuance of an order of the court under Part 26 or 26A (order sanctioning compromise or arrangement with members or creditors);
(f) anything done under an arrangement made in pursuance of section 110 of the Insolvency Act 1986 (c. 45) or Article 96 of the Insolvency (Northern Ireland) Order 1989 (S.I. 1989/2405 (N.I. 19)) (liquidator in winding up accepting shares as consideration for sale of company's property);
(g) anything done under an arrangement made between a company and its creditors that is binding on the creditors by virtue of Part 1 of the Insolvency Act 1986 or Part 2 of the Insolvency (Northern Ireland) Order 1989 (S.I. 1989/2405 (N.I. 19)).

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Source: https://www.legislation.gov.uk/ukpga/2006/46/section/681 (the official version)
Page: https://openlegislation.uk/companies-act-2006/section-681
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.