Section 195(3)

Whether or not the arrangement or any such transaction has been avoided, each of the persons specified in subsection (4) is liable— to account to the company for any gain that he has made directly or indirectly by the arrangement or transaction, and (jointly and severally with any other person so liable under this section) to indemnify the company for any loss or damage resulting from the arrangement or transaction.

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Source: legislation.gov.uk · retrieved 2026-09-04