This section supplements section 48.
"The appropriate court", in relation to a registered society, means the court having jurisdiction to wind up the society under the provisions of the Insolvency Act 1986 as applied by section 123.
"Transaction" includes any act.
The reference in section 48(1) to limitations under the society's registered rules includes limitations deriving—
from a resolution of the society in general meeting or a meeting of any class of members, or
from any agreement between the members of the society or of any class of members.
Sections 252 to 255 of the Companies Act 2006 apply for the purposes of references to a person's being "connected" with a committee member—
as if any reference to a director of a company were to a member of a committee of a registered society, and
subject to such other adaptations and modifications as may be specified by regulations made by the Treasury under this section.