(1) This section has effect where qualifying indemnity provision is made for a director of a company, and applies—
(a) to the company of which he is a director (whether the provision is made by that company or an associated company), and
(b) where the provision is made by an associated company, to that company.
(2) That company or, as the case may be, each of them must keep available for inspection—
(a) a copy of the qualifying indemnity provision, or
(b) if the provision is not in writing, a written memorandum setting out its terms.
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