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Protection of directors of the Terminating Company and the Permanent Company.
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11.—(1) Each of the directors of the Terminating Company appointed in accordance with the Articles of Association of that Company shall be entitled to carry into effect the provisions of the Scheduled Agreement notwithstanding that he is interested in the subject matter of the said Agreement or derives any profit or benefit therefrom or stands in a fiduciary position to the Terminating Company.
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(2) The validity of the Scheduled Agreement shall not be prejudiced or called in question in any legal proceedings or otherwise by reason merely of the fact that any director of the Terminating Company or of the Permanent Company is interested in the subject matter of the said Agreement, or derives any profit or benefit therefrom, or stands in a fiduciary position to the Terminating Company or to the Permanent Company.
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