Resolution (board): approval of funding to director for expenditure on company business | Practical Law

Resolution (board): approval of funding to director for expenditure on company business | Practical Law

A standard resolution to be included in board minutes approving and authorising the grant of funds to a director of the company for the purposes of company business, under the exception in section 204 of the Companies Act 2006 (Exception for expenditure on company business) from the general requirement of member approval for loans to directors.

Resolution (board): approval of funding to director for expenditure on company business

Practical Law UK Standard Clause 4-201-3862 (Approx. 5 pages)

Resolution (board): approval of funding to director for expenditure on company business

MaintainedUnited Kingdom
A standard resolution to be included in board minutes approving and authorising the grant of funds to a director of the company for the purposes of company business, under the exception in section 204 of the Companies Act 2006 (Exception for expenditure on company business) from the general requirement of member approval for loans to directors.