(1) A member of a committee of inspection must not, while acting as such a
member, except as provided by this Act or with the leave of the Court:
- (a)
- make an arrangement for receiving, or accept, from the company or any other
person, in connection with the winding up, a gift, remuneration or pecuniary
or other consideration or benefit; or
- (b)
- directly or indirectly derive any profit or advantage from a transaction,
sale or purchase for or on account of the company or any gift, profit or
advantage from a creditor; or
- (c)
- directly or indirectly become the purchaser of any property of the
company.
(2) A transaction entered into in contravention of subsection (1) may be
set aside by the Court on the application of a creditor or member of the
company.