| Commentary

62 Civil consequences of contravention

| Commentary

62 Civil consequences of contravention

Where a company enters into an arrangement and the necessary shareholder approval is not obtained, it may, if it thinks fit, avoid the arrangement and any other transaction entered into in pursuance of it (whether by the company or any other person), unless1:

  1. 62.1

        it is no longer possible to restore any money or other asset that was the subject matter of the arrangement or transaction;

  2. 62.2

        the company has been indemnified in pursuance of this section by any other persons for the loss or damage suffered by it; or

  3. 62.3

        the avoidance would affect

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