Section 31 shall not prohibit a company from making any loan or quasi-loan or entering into any credit transaction as creditor for any person if -
(a) the company enters into the transaction concerned in the ordinary course of its business; and
(b) the value of the transaction is not greater, and the terms on which it is entered into are no more favourable, in respect of the person for whom the transaction is made, than that or those which -
(i) the company ordinarily offers, or
(ii) it is reasonable to expect the company to have offered,
to or in respect of a person of the same financial standing as that person but unconnected with the company.