68 Meaning of „distribution“

(1) In this Act but subject to the provisions of this Part, „distribution“, in
relation to a distribution by a company to a member, means —


(a) the direct or indirect transfer of an asset, other than the
company‘s own shares, to or for the benefit of the member; or

(b) the incurring of a debt to or for the benefit of a member,

in relation to shares held by a shareholder, or to the entitlements to
distributions of a member who is not a shareholder, and whether by means
of the purchase of an asset, the purchase, redemption or other acquisition
of shares, a transfer of indebtedness or otherwise, and includes a dividend.

(2) „Distribution“ does not include —

(a) a distribution by way of a distribution of assets to members of the
company on its winding up;

(b) a distribution of assets to members of a cell of a protected cell
company during and for the purposes of a receivership order; or

(c) a distribution of assets to members of a cell of a protected cell
company during and for the purposes of the termination of the
cell.