# Companies Act 2006, Section 214: Loans etc: effect of subsequent affirmation


Where a transaction or arrangement is entered into by a company in contravention of section 197, 198, 200, 201 or 203 (requirement of members' approval for loans etc) but, within a reasonable period, it is affirmed—
(a) in the case of a contravention of the requirement for a resolution of the members of the company, by a resolution of the members of the company, and
(b) in the case of a contravention of the requirement for a resolution of the members of the company's holding company, by a resolution of the members of the holding company,
the transaction or arrangement may no longer be avoided under section 213.

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Source: https://www.legislation.gov.uk/ukpga/2006/46/section/214 (the official version)
Page: https://openlegislation.uk/companies-act-2006/section-214
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.