Section 41(4)

The transaction ceases to be voidable if— restitution of any money or other asset which was the subject matter of the transaction is no longer possible, or the company is indemnified for any loss or damage resulting from the transaction, or rights acquired bona fide for value and without actual notice of the directors' exceeding their powers by a person who is not party to the transaction would be affected by the avoidance, or the transaction is affirmed by the company.

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