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What if a company has agreed to fund a director’s legal costs under section 337A of the 1985 Act? What will happen if the case is still running after commencement?

April 26, 2017ACT agreed COMPANY costs director fund Legal section

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What if a company has agreed to fund a director’s legal costs under section 337A of the 1985 Act? What will happen if the case is still running after commencement?

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If before commencement a company has agreed to provide funds to a director for legal proceedings under section 337A (Funding of director’s expenditure on defending proceedings), the company will be able to fulfil that agreement, even after commencement date.