206 Exception for expenditure in connection with regulatory action or investigation
206 Exception for expenditure in connection with regulatory action or investigation
Companies Act 2006 | Legislation

Approval is not required under section 197, 198, 200 or 201 (requirement of members' approval for loans etc) for anything done by a company—

(a)     to provide a director of the company or of its holding company with funds to meet expenditure incurred or to be incurred by him in defending himself—

(i)     in an investigation by a regulatory authority, or

(ii)     against action proposed to be taken by a regulatory authority,

in connection with any alleged negligence, default, breach of duty or breach of trust by him in relation to the company or an associated company, or