64 Exceptions

Under the Companies Act 2006 it is unnecessary to secure the approval of the shareholders in the circumstances set out in the following sections:

  1. 64.1

        Section 204: loans, quasi-loans and credit transactions (and related guarantees or security) to meet expenditure on company business, provided that the total value of transactions made in respect of a director (and any connected person) under this exception does not exceed £50,000. This section also covers a loan etc to enable the director or connected person to avoid incurring the expenditure. The expenditure must be incurred either for the purposes of the company,

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