194 Exception for transactions on recognised investment exchange
194 Exception for transactions on recognised investment exchange
Companies Act 2006 | Legislation

(1)     Approval is not required under section 190 (requirement of members' approval for substantial property transactions) for a transaction on a recognised investment exchange effected by a director, or a person connected with him, through the agency of a person who in relation to the transaction acts as an independent broker.

(2)     For this purpose—

(a)     “independent broker” means a person who, independently of the director or any person connected with him, selects the person with whom the transaction is to be effected; and