permitted cause

05:02 Aug 7, 2019 

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15:29 Jul 27, 2019 

10.3 Article 10.2 applies when:

(a) the director’s interest cannot reasonably be regarded as likely to give rise to a material conflict of interest; or
(b) the director’s conflict of interest arises from a permitted cause (as defined in Article10.4).

10.4 For the purposes of Article 10.3, the following are permitted causes:

(a) a guarantee given, or to be given, by or to a director in respect of an obligation incurred by or on behalf of the Association or any of its subsidiaries; and
(b) subscription, or an agreement to subscribe, for securities of the Association or any of its subsidiaries, or to underwrite, sub-underwrite, or guarantee subscription for any such securities.
https://www.rya.org.uk/SiteCollectionDocuments/legal/Web Doc...