(1) In a case where—
(a) section 175 (duty to avoid conflicts of interest) is complied with by authorisation by the directors, or
(b) section 177 (duty to declare interest in proposed transaction or arrangement) is complied with,
the transaction or arrangement is not liable to be set aside by virtue of any common law rule or equitable principle requiring the consent or approval of the members of the company.
This is without prejudice to any enactment, or provision of the company's constitution, requiring such consent or approval.
(2) The application of the general duties
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Without prejudice to any other enactment by virtue of which any offence is triable either way1, the following offences are triable either way2: (1) offences at common law of public nuisance3; (2) an offence at common law of outraging public decency4; (3) administering an oath etc
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