Section 397 of Insolvency Act CAP 53: Share transfers and attempts to alter member's status after liquidation resolution to be void
The following are void if made after the commencement of a voluntary liquidation of a company—
(a) any transfer of the company's shares (other than a transfer made to or with the sanction of the liquidator);
(b) an alteration in, or an attempt to alter, the status of the company's members.
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