Commentary

17 Prohibition against financial assistance no longer applicable to private companies

COMPANIES vol 11 acquisitions, mergers, demergers
| Commentary

17 Prohibition against financial assistance no longer applicable to private companies

| Commentary

17 Prohibition against financial assistance no longer applicable to private companies

Under the Companies Act 2006, the prohibition on the giving of financial assistance generally no longer applies to private companies. (The Companies Act 1985, now repealed, contained a general prohibition on the giving of financial assistance by any company, private or public, along with a relaxation of the general rule for private companies which carried out a ‘whitewash procedure’.)

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