190 Substantial property transactions: requirement of members' approval
Companies Act 2006 | Legislation

Substantial property transactions

190  Substantial property transactions: requirement of members' approval

(1)     A company may not enter into an arrangement under which—

(a)     a director of the company or of its holding company, or a person connected with such a director, acquires or is to acquire from the company (directly or indirectly) a substantial non-cash asset, or

(b)     the company acquires or is to acquire a substantial non-cash asset (directly or indirectly) from such a director or a person so connected,

unless the arrangement has been approved by a resolution of the members of the company or is conditional on such

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