Payment to director, etc., for loss of office, etc., in connection with transfer of undertaking or property.

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....ayment to director, etc., for loss of office, etc., in connection with transfer of undertaking or property. 319. (1) No director of a company shall, in connec­tion with the transfer of the whole....

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....t proposed to be made by such transferee or person (including the amount thereof) have been disclosed to the members of the company and the proposal has been approved by the company in general meeting....