What transactions are considered as 'related party transactions' under the provisions of the Companies Act, 2013? Explain.

In accordance with the provisions of the Companies Act, 2013, as contained under Section 188(1) except with the consent of the Board of Directors given by a resolution at a meeting of the Board and subject to such conditions as may be prescribed, no company shall enter into any contract or arrangement with a related party with respect to: Sale, purchase or supply of any goods or materials. Selling or otherwise disposing of, or buying, property of any kind. Leasing of property of any kind. Availing or rendering of any services. Appointment of any agent for purchase or sale of goods, materials, services, or property. Such related party's appointment to any officer or place of profit in the company, its subsidiary company or associate company; and Underwriting the subscription of any securities or derivatives thereof, of the company. Provided that no contract or arrangement, in the case of a company having a paid-up share capital of not less than such amount, or transactions not exceeding such sums, as may be prescribed, shall be entered into except with the prior approval of the company by a special resolution. (Note: Student preparing for December, 2015 examinations may note that as per Companies (Amendment) Act, 2015 dated 25th May, 2015, the contract or arrangement shall be entered by prior approval of members through ordinary resolution.)