Charities Act 1992

41 Charitable companies: requirement of consent of Commissioners to certain acts

After section 30B of the 1960 Act (as amended by the [1989 c. 40.] Companies Act 1989) there shall be inserted—

“30BA Charitable companies: requirement of consent of Commissioners to certain acts

(1) Where a company is a charity—

(a) any approval given by the company for the purposes of any of the provisions of the Companies Act 1985 specified in subsection (2) below, and

(b) any affirmation by it for the purposes of section 322(2)(c) of that Act (affirmation of voidable arrangements under which assets are acquired by or from a director or person connected with him),

is ineffective without the prior written consent of the Commissioners.

(2) The provisions of the Companies Act 1985 referred to in subsection (1)(a) above are—

(a) section 312 (payment to director in respect of loss of office or retirement);

(b) section 313(1) (payment to director in respect of loss of office or retirement made in connection with transfer of undertaking or property of company);

(c) section 319(3) (incorporation in director’s service contract of term whereby his employment will or may continue for a period of more than 5 years);

(d) section 320(1) (arrangement whereby assets are acquired by or from director or person connected with him);

(e) section 337(3)(a) (provision of funds to meet certain expenses incurred by director).”