Section 208 | Exceptions for intra-group transactions

(1)Approval is not required under section 197, 198 or 200 for—

(a)the making of a loan or quasi-loan to an associated body corporate, or

(b)the giving of a guarantee or provision of security in connection with a loan or quasi-loan made to an associated body corporate.

(2)Approval is not required under section 201—

(a)to enter into a credit transaction as creditor for the benefit of an associated body corporate, or

(b)to give a guarantee or provide security in connection with a credit transaction entered into by any person for the benefit of an associated body corporate.