[226E Payments made without approval: civil consequences]
Companies Act 2006 (2006 c 46) | Legislation

[Supplementary]

[226E  Payments made without approval: civil consequences]

[(1)     An obligation (however arising) to make a payment which would be in contravention of section 226B or 226C has no effect.

(2)     If a payment is made in contravention of section 226B or 226C—

(a)     it is held by the recipient on trust for the company or other person making the payment, and

(b)     in the case of a payment by a company, any director who authorised the payment is jointly and severally liable to indemnify

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