(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
does not exceed £15,000.
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