Agreements, by which directors were given rights to payments for life, terminable only at their discretion were valid. The agreements were intra vires, and the agreement and support of the only shareholder validated them, even though the strict procedure had not been followed.
Citations:
Gazette 24-Feb-1999, Gazette 12-May-1999, Times 03-Feb-1999
Statutes:
Jurisdiction:
England and Wales
Company
Updated: 11 May 2022; Ref: scu.90622
