[COM 235] Consequences of failing to comply with section 232235 

235

(1) If a company provides financial assistance in contravention of section 232 —

• (a)the contravention does not affect the validity of the financial assistance or of any contract or transaction connected with it; and
• (b)the company shall not be guilty of an offence.

(2) Any person who is involved in a company’s contravention of section 232 contravenes this subsection and commits an offence if the involvement is dishonest.