(1) In this Chapter -

"company", in the context of a provision that imposes a restriction on a company by reference to the fact of its having a restricted person (within the meaning of section 826) or otherwise makes provision in consequence of that fact, means any company referred to in section 819(6);

"director of an insolvent company" means a person who was a director or shadow director of an insolvent company at the date of, or within 12 months before, the commencement of its winding up;

"insolvent company" means a company that is unable to pay its debts;

"restricted person" means a person who is subject to a restriction under a declaration made under section 819(1) that is in force.

(2) For the purposes of the definition of "insolvent company" in subsection (1), a company is unable to pay its debts if -

(a) at the date of the commencement of its winding up it is proved to the court that it is unable to pay its debts (within the meaning of section 570), or