207 Exceptions for minor and business transactions
207 Exceptions for minor and business transactions
Companies Act 2006 | Legislation

(1)     Approval is not required under section 197, 198 or 200 for a company to make a loan or quasi-loan, or to give a guarantee or provide security in connection with a loan or quasi-loan, if the aggregate of—

(a)     the value of the transaction, and

(b)     the value of any other relevant transactions or arrangements,

does not exceed £10,000.

(2)     Approval is not required under section 201 for a company to enter into a credit transaction, or to give a guarantee or provide security in connection with a credit transaction, if the aggregate of—

(a)     the value of the transaction (that is, of the credit transaction, guarantee or security), and

(b)     the value of any other relevant transactions or arrangements,

does not exceed £15,000.

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