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6.7
procedure and observe the conditions set out in Article 6.8; or
(ii) the Directors obtain the prior written approval of the Charity Commission
and fully comply with any procedures it prescribes.
Subject to Article 6.8, a Director may:
(a) receive a benefit from the Company in the capacity of a beneficiary of the Company;
(b) be employed by the Company or enter into a contract for the supply of goods or services to the Company, other than for acting as a Director;
(c) receive interest on money lent to the Company at a reasonable and proper rate not exceeding 2% per annum below the base rate of a clearing bank to be selected by the Directors, or 0.5%, whichever is the higher; and
(d) receive rent for premises let by the Director to the Company if the amount of the rent and the other terms of the lease are reasonable and proper.
The Company and its Directors may only rely upon the authority provided by Article 6.7 if each of the following conditions is satisfied:
(a) the remuneration or other sums paid to the Director do not exceed an amount that is reasonable in all the circumstances.
(b) the Director is absent from the part of any meeting at which there is discussion of:
(i) his or her employment, remuneration, or any matter concerning the contract, payment or benefit; or
(ii) his or her performance in the employment, or his or her performance of the contract; or
(iii) any proposal to enter into any other contract or arrangement with him or her or to confer any benefit upon him or her that would be permitted under Article 6.7; or
(iv) any other matter relating to a payment or the conferring of any benefit permitted by Article 6.7,
(c) the Director does not vote on any such matter and is not to be counted when
6.8
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