C6C5Part 10A company's directors

Annotations:
Modifications etc. (not altering text)
C6

Pts. 1-39 modified (31.12.2020) by Regulation (EC) No. 2157/2001, Art. AAA1(3) (as inserted by The European Public Limited-Liability Company (Amendment etc.) (EU Exit) Regulations 2018 (S.I. 2018/1298), regs. 1, 97 (with regs. 140-145) (as amended by S.I. 2020/523, regs. 1(2), 5(a)-(f)); 2020 c. 1, Sch. 5 para. 1(1))

Chapter 4Transactions with directors requiring approval of members

Loans, quasi-loans and credit transactions

I1C4C7208C3C2C1Exceptions for intra-group transactions

1

Approval is not required under section 197, 198 or 200 for—

a

the making of a loan or quasi-loan to an associated body corporate, or

b

the giving of a guarantee or provision of security in connection with a loan or quasi-loan made to an associated body corporate.

2

Approval is not required under section 201—

a

to enter into a credit transaction as creditor for the benefit of an associated body corporate, or

b

to give a guarantee or provide security in connection with a credit transaction entered into by any person for the benefit of an associated body corporate.