alleryStart learning →Section 186(5): a Board resolution sanctioning a loan needs consent of:
AAll directors present
BA majority of directors
CThe chairperson only
DTwo-thirds of directors
Answer & Solution
Correct answer: A. All directors present
The resolution must be passed with the consent of all the directors present at the meeting.
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Related questions
Section 186(4) requires loans and investments to be disclosed in the:Maximum imprisonment for contravening s.186 per s.186(13) is:s.186(11) exempts lending by which company in ordinary business?The s.186 register of loans, guarantees and investments is kept at the:A company in default on repaying deposits may not give loans under s.186(8) until:Loans under s.186 cannot be at an interest rate below the yield on:Under s.186(5), a subsisting term loan needs prior approval of:The s.186(3) limit check is waived for loans by a company to its: