§ Mr. Eyre
Amendments Nos. 111 and 112 are consequential amendments made necessary by the addition of a new subsection to clause 99.
Amendment No. 113 ensures that the requirement in section 48 of the 1980 Act to submit arrangements of substantial value between a company and one of its directors for approval by a general meeting is waived if the director concerned acquires the assets solely by virtue of being a shareholder of that company.
Amendments agreed to.
Amendments made: No. 112, in page 107, line 32 leave out first 'subsection' and insert 'subsections'.
No. 113, in page 108, line 3 at end add—'(8) Subsection (1)(a) above shall not apply in relation to any arrangement whereby a person is to acquire an asset from a company of which he is a member if the arrangement is made with that person in his character as such member.'.—[Mr. Eyre.]