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of <h1>Section 185 Omitted: Changes in Loan Rules to Directors; Impacts Holding Companies and Subsidiaries' Financial Transactions</h1> Section 185 of the Companies Act, concerning loans to directors, has been omitted. Previously, it allowed exemptions for loans, guarantees, or securities provided by a holding company to its wholly owned subsidiary, provided these were used for principal business activities. This included loans made by banks or financial institutions to a subsidiary. The provision was substituted and later omitted, reflecting regulatory changes in the governance of inter-company financial transactions.
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