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Approval of company requisite for payment by it to director for loss of office, etc. 182. It shall not be lawful for a company to make to any director of the company any payment by way of compensation for loss of office, or as consideration for or in connection with his retirement from office, without particulars with respect to the proposed payment (including the amount thereof) being disclosed to members of the company and the proposal being approved by the company.
© 1960 Crown Copyright
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