This is the original version (as it was originally enacted).
(1)For section 233(3) of the [1985 c. 6.] Companies Act 1985 there shall be substituted—
“(3)Subsections (1) and (2) do not apply in relation to any transaction, arrangement or agreement made by an authorised institution for any officer of the institution or for any officer of its holding company unless the officer is a chief executive or manager within the meaning of the Banking Act 1987; and references to officers in Part II of Schedule 6 shall be construed accordingly.”
(2)For Article 241(3) of the [S.I. 1986/1032 (N.I. 6).] Companies (Northern Ireland) Order 1986 there shall be substituted—
“(3)Paragraphs (1) and (2) do not apply in relation to any transaction, arrangement or agreement made by an authorised institution for any officer of the institution or for any officer of its holding company unless that officer is a chief executive or manager within the meaning of the Banking Act 1987; and references to officers in Part II of Schedule 6 shall be construed accordingly.”
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