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Illegality under the Companies Act

By: Language: English Series: Estates Gazette ; (9329) 24 July 1993, 90-91(2)Publication details: 1993Subject(s): Summary: Rules governing the lending of company money to directors are complicated, safeguarding against improper use, but they can also create incidental legal problems for joint venture finance. The article examines a hypothetical case study to illustrate where such funding becomes illegal.

Rules governing the lending of company money to directors are complicated, safeguarding against improper use, but they can also create incidental legal problems for joint venture finance. The article examines a hypothetical case study to illustrate where such funding becomes illegal.