198 Quasi-loans to directors: requirement of members' approval
198 Quasi-loans to directors: requirement of members' approval
Companies Act 2006 | Legislation

(1)     This section applies to a company if it is—

(a)     a public company, or

(b)     a company associated with a public company.

(2)     A company to which this section applies may not—

(a)     make a quasi-loan to a director of the company or of its holding company, or

(b)     give a guarantee or provide security in connection with a quasi-loan made by any person to such a director,

unless the transaction has been approved by a resolution of the members of the company.