This section is new and it was recommended by the committee on company law. The reasons for it are obvious because of the many obligations placed on officers and auditors of a company. If the articles of association or other contracts waived these obligations then the law relating to these matters would not serve much purpose. The purpose of this section is to make any such provision in the articles or contracts void. There are exceptions of course in paragraphs (a) and (b).
SECTION 200.
Question proposed : "That Section 200 stand part of the Bill."
Question put and agreed to.