Part 10

Charitable companies etc.

Acts requiring Commission consent

Consent of Commission required for certain acts of charitable company
202
1
A charitable company may not do an act to which this section applies without the prior written consent of the Commission.
2
This section applies to an act that—
a
does not require approval under a listed provision of Chapter 4 of Part 10 of the Companies Act 2006 (transactions with directors) by the members of the company, but
b
would require such approval but for an exemption in the provision in question that disapplies the need for approval on the part of the members of a body corporate which is a wholly-owned subsidiary of another body corporate.
3
The reference to a listed provision is a reference to a provision listed in section 201(2).
4
If a company acts in contravention of this section, the exemption referred to in subsection (2)(b) is to be treated as being of no effect in relation to the act.