42 Constitutional limitations: companies that are charities
42 Constitutional limitations: companies that are charities
Companies Act 2006 | Legislation

(1)     Sections 39 and 40 (company's capacity and power of directors to bind company) do not apply to the acts of a company that is a charity except in favour of a person who—

(a)     does not know at the time the act is done that the company is a charity, or

(b)     gives full consideration in money or money's worth in relation to the act in question and does not know (as the case may be)—

(i)     that the act is not permitted by the company's constitution, or

(ii)     that the act is beyond the powers of the directors.

Popular documents