Section 227 — Companies Act 1993: Interpretation

227 Interpretation In this Part of this Act, unless the context otherwise requires,— company includes an overseas company registered under Part 18 Compromise means a compromise between a company and its creditors, including a compromise— (a) Cancelling all or part of a debt of the company; or (b) Varying the rights of its creditors or the terms of a debt; or (c) Relating to an alteration of a company's constitution that affects the likelihood of the company being able to pay a debt: Creditor includes— (a) A person who, in a liquidation, would be entitled to claim in accordance with section 303 of this Act that a debt is owing to that person by the company; and (b) A secured creditor: Creditor: this definition was substituted, as from 1 July 1994, by section 28 Companies Act 1993 Amendment Act 1994 (1994 No 6). Proponent means a person referred to in section 228 of this Act who proposed a compromise in accordance with this Part. Section 227 company : inserted, on 1 November 2007, by section 5 of the Companies Amendment Act 2006 (2006 No 56).