Section 47, The Companies (Amendment) Act, 2014

Section 236 of the Companies Act, 2009 is amended by theinsertion of the following new subsection immediately after subsection (2)– “(3) Where members deem it fit and agree at a general meeting, to enter into a transaction in which a conflict of interest has been disclosed, the approval of the Commission may be sought before entering into such transaction”. 211 of Act 2009. 215 of Act 2009. 231 of Act 2009. 235 of Act 2009. 236 of Act 2009.