Part 10A company's directors
Chapter 4Transactions with directors requiring approval of members
Loans, quasi-loans and credit transactions
208Exceptions for intra-group transactions
(1)
Approval is not required under section 197, 198 or 200 for—
(a)
the making of a loan or quasi-loan to an associated body corporate, or
(b)
the giving of a guarantee or provision of security in connection with a loan or quasi-loan made to an associated body corporate.
(2)
Approval is not required under section 201—
(a)
to enter into a credit transaction as creditor for the benefit of an associated body corporate, or
(b)
to give a guarantee or provide security in connection with a credit transaction entered into by any person for the benefit of an associated body corporate.