163 (3D): For the purposes of this section —

(a) where a company makes a loan or quasi-loan to another company, enters into a credit
transaction for the benefit of another company, gives a guarantee or provides security
in connection with a loan, quasi-loan or credit transaction made to or entered into for
the benefit of another company, or enters into an arrangement referred to in
subsection (3A), a director or directors of the first-mentioned company shall not be
taken to have an interest in shares in that other company by reason only that the

first-mentioned company has an interest in shares in that other company

and a director or directors have an interest in shares in the first-mentioned
company;
(b) “interest in shares” has the meaning assigned to that expression in section 7;
(c) a person who has an interest in a share of a company under section 7 is to be treated as
having an interest in the voting power conferred on the holder by that share;
(d) a reference to prior approval of the company in subsection (1) shall not include any
approval of the company that is given after the loan, quasi-loan, credit transaction,
guarantee or security referred to in that subsection has been made, provided for or
entered into (as the case may be); and
(e) a reference to prior approval of the company in subsection (3A) shall not include any
approval of the company that is given after the arrangement referred to in that
subsection has been entered into.
[Act 36 of 2014 wef 03/01/2016]