Companies Act
179. Loans etc: effect of subsequent affirmation
179. Loans etc: effect of subsequent affirmation
If a transaction or arrangement is entered into by a company in contravention of section 164, 165, 166, 167 or 168 but, within a reasonable period, it is ratified—(a)in the case of a contravention of the requirement for a resolution of the members of the company, by a resolution of the members of the company; and(b)in the case of a contravention of the requirement for a resolution of the members of the company's holding company, by a resolution of the members of the holding company,the transaction or arrangement can no longer be avoided under section 178.Division 6 — Payments for loss of office
Source: Kenya Law