(1) This section applies where a public company enters into an agreement in contravention of section 598 and either—
(a) the other party to the agreement has not received the valuer's report required to be sent to him, or
(b) there has been some other contravention of the requirements of this Chapter that the other party to the agreement knew or ought to have known amounted to a contravention.
(2) In those circumstances—
(a) the company is entitled to recover from that person any consideration given by it under the agreement,
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