Part X Enforcement of Fair Dealing by Directors
Restrictions on a company’s power to make loans, etc., to directors and persons connected with them
336 Transactions at behest of holding company.
The following transactions are excepted from the prohibitions of section 330—
(a)
a loan or quasi-loan by a company to its holding company, or a company entering into a guarantee or providing any security in connection with a loan or quasi-loan made by any person to its holding company;
(b)
a company entering into a credit transaction as creditor for its holding company, or entering into a guarantee or providing any security in connection with a credit transaction made by any other person for its holding company.