Part 11    Transitional and Saving Arrangements for Part 11
95.
Loans etc. to directors or other persons
(1) This section applies if—
(a) before the commencement date of Division 2 of Part
11, a company entered into a transaction specified in
section 157HA(3)(a) of the predecessor Ordinance;
(b) the transaction was entered into on the condition
specified in section 157HA(4)(b) of the predecessor
Ordinance; and
(c) that condition has not been satisfied before that
commencement date.
(2) If the company has dispensed with the holding of an
annual general meeting in accordance with section 613, the
specified condition continues to apply as if it provided—
(a) that the approval of the company is required on or
before the last date on which the company would
otherwise have been required to hold an annual
general meeting; and