Section 221 | Exception for small payments

(1)Approval is not required under section 217, 218 or 219 (payments requiring members' approval) if—

(a)the payment in question is made by the company or any of its subsidiaries, and

(b)the amount or value of the payment, together with the amount or value of any other relevant payments, does not exceed £200.

(2)For this purpose “other relevant payments” are payments for loss of office in relation to which the following conditions are met.

(3)Where the payment in question is one to which section 217 (payment by company) applies, the conditions are that the other payment was or is paid—

(a)by the company making the payment in question or any of its subsidiaries,

(b)to the director to whom that payment is made, and

(c)in connection with the same event.

(4)Where the payment in question is one to which section 218 or 219 applies (payment in connection with transfer of undertaking, property or shares), the conditions are that the other payment was (or is) paid in connection with the same transfer—

(a)to the director to whom the payment in question was made, and

(b)by the company making the payment or any of its subsidiaries.