Section 196

Where a transaction or arrangement is entered into by a company in contravention of section 190 (requirement of members' approval) but, within a reasonable period, it is affirmed— the transaction or arrangement may no longer be avoided under section 195. in the case of a contravention of subsection (1) of that section, by resolution of the members of the company, and in the case of a contravention of subsection (2) of that section, by resolution of the members of the holding company,

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