Companies Act 1993

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132 Exercise of powers in relation to employees

(1)

Nothing in section 131 limits the power of a director to make provision for the benefit of employees of the company in connection with the company ceasing to carry on the whole or part of its business.

(2)

In subsection (1),—

company includes a subsidiary of a company

employees includes former employees and the dependants of employees or former employees; but does not include an employee or former employee who is or was a director of the company.