C5Part 10A company's directors
Annotations:
Modifications etc. (not altering text)
Chapter 4Transactions with directors requiring approval of members
Substantial property transactions
I1C4C6196C1C2C3Property transactions: effect of subsequent affirmation
Where a transaction or arrangement is entered into by a company in contravention of section 190 (requirement of members' approval) but, within a reasonable period, it is affirmed—
a
in the case of a contravention of subsection (1) of that section, by resolution of the members of the company, and
b
in the case of a contravention of subsection (2) of that section, by resolution of the members of the holding company,
the transaction or arrangement may no longer be avoided under section 195.
Pts. 1-39 (except for Pt. 7 and ss. 662-669), 45-47 extended (12.5.2011) by The Companies Act 2006 (Consequential Amendments and Transitional Provisions) Order 2011 (S.I. 2011/1265), art. 5(1), Sch. 1 para. 2