(1) A liability limitation agreement is authorised by the members of the company if it has been authorised under this section and that authorisation has not been withdrawn.
(2) A liability limitation agreement between a private company and its auditor may be authorised—
(a) by the company passing a resolution, before it enters into the agreement, waiving the need for approval,
(b) by the company passing a resolution, before it enters into the agreement, approving the agreement's principal terms, or
(c) by the company passing a resolution, after it enters into the agreement,
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