Section 132 — Companies Act 1993: Exercise of powers in relation to employees

132 Exercise of powers in relation to employees (1) Nothing in section 131 of this Act 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) of this section,— 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 Company includes a subsidiary of a company.