Explanatory Notes

Companies Act 2006

2006 CHAPTER 46

8 November 2006

Commentary on Individual Duties

Chapter 3: Declaration of Interest in Existing Transaction Or Arrangement

Section 182: Declaration of interest in existing transaction or arrangement

360.This section requires a director to declare the nature and extent of any direct or indirect interest that he has in any transaction or arrangement entered into by the company. It replaces the provision made by section 317 of the 1985 Act.

361.This chapter differs from the provisions of that section in a number of important respects. The main points are summarised below.