(1) In their application to a company that is a charity, the provisions of this Chapter have effect subject to this section.
(2) Section 175 (duty to avoid conflicts of interest) has effect as if—
(a) for subsection (3) (which disapplies the duty to avoid conflicts of interest in the case of a transaction or arrangement with the company) there were substituted—
“(3) This duty does not apply to a conflict of interest arising in relation to a transaction or arrangement with the company if or to the extent that the company's articles allow that duty to be so disapplied,
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