Section 205(2)

The terms are— that the loan is to be repaid, or (as the case may be) any liability of the company incurred under any transaction connected with the thing done is to be discharged, in the event of— the director being convicted in the proceedings, judgment being given against him in the proceedings, or the court refusing to grant him relief on the application; and that it is to be so repaid or discharged not later than— the date when the conviction becomes final, the date when the judgment becomes final, or the date when the refusal of relief becomes final.

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