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Paragraph 24

Original text. Later amendments are not shown.

In regulation 65 (power to provide for employees on cessation or transfer of business)—

(a)

at the beginning of paragraph (3)(b), insert the words “subject to paragraph (4)”;

(b)

after paragraph (3), insert—

“(4)

A resolution of the directors is not sufficient sanction for payments to or for the benefits of directors, former directors or shadow directors.”.