# The Insolvency Rules (Northern Ireland) 1991, Rule 2.49: Members' dealings with the company


(1) Subject to paragraph (2), membership of the committee does not prevent a person from dealing with the company while the administration order is in force.
(2) Transactions in the course of the dealings mentioned in paragraph (1) shall be in good faith and for value.
(3) The court may, on the application of any person interested, set aside any transaction which appears to it to be contrary to the requirements of this Rule, and may give such consequential directions as it thinks fit for compensating the company for any loss which it may have incurred in consequence of the transaction.
[E.R.2.46]

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Source: https://www.legislation.gov.uk/nisr/1991/364/rule/2.49 (the official version)
Page: https://openlegislation.uk/insolvency-rules-northern-ireland-1991/rule-2.49
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.