(2)If in connection with any such transfer as is mentioned in section 319 or in section 320,-(a)the price to be paid, to a Director of the company whose office is to be abolished or who is to retire from office, for any shares in the company held by him is in excess of the price which could at the time have been obtained by other holders of the like shares; or(b)any valuable consideration is given to any such Director, the excess or the money value of the consideration, as the case may be, shall for the purposes of that section, be deemed to have been a payment made to him by way of compensation for loss of office, or as consideration for retirement from office, or in connection with such loss or retirement.
