C5Part 10A company's directors

Annotations:
Modifications etc. (not altering text)

Chapter 4Transactions with directors requiring approval of members

Service contracts

C1C2C3I1C4C6189Directors' long-term service contracts: civil consequences of contravention

If a company agrees to provision in contravention of section 188 (directors' long-term service contracts: requirement of members' approval)—

a

the provision is void, to the extent of the contravention, and

b

the contract is deemed to contain a term entitling the company to terminate it at any time by the giving of reasonable notice.