(1) Approval is not required under section 217, 218 or 219 (payments requiring members' approval) if—
(a) the payment in question is made by the company or any of its subsidiaries, and
(b) the amount or value of the payment, together with the amount or value of any other relevant payments, does not exceed £200.
(2) For this purpose “other relevant payments” are payments for loss of office in relation to which the following conditions are met.
(3) Where the payment in question is one to which section 217 (payment by company) applies, the conditions are that
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