The Companies (Northern Ireland) Order 1986 (revoked)

[F1 PART III]F10 N.I. [F1 OTHER TRANSACTIONS, ARRANGEMENTS AND AGREEMENTS]

F1 1990 NI 5

F10 Order repealed (prosp.) by Companies Act 2006 (c. 46), ss. 1284(2), 1295, 1300(2), Sch. 16 and the repeal being partly in force, as to which see individual Articles (with savings (with adaptations) by Companies Act 2006 (Commencement No. 6, Saving and Commencement Nos. 3 and 5 (Amendment)) Order 2008 (S.I. 2008/674), arts. 2(3), {4}, Sch. 2) and subject to amendments (6.4.2008) by Companies Act 2006 (Consequential Amendments etc) Order 2008 (S.I. 2008/948), arts. 2(2), 3(1)(b)(2), Sch. 1 paras. 135, 147, 148 {Sch. 2 Note 1} (with arts. 6, 11, 12) and subject to amendments (6.4.2008) by S.R. 2008/133, {regs. 2, 3}

[F2 28.]  This Part applies in relation to the following classes of transactions, arrangements and agreements—

(a) loans, guarantees and securities relating to loans, arrangements of a kind described in [F3 section 203 of the Companies Act 2006] relating to loans and agreements to enter into any of the foregoing transactions and arrangements;

(b) quasi-loans, guarantees and securities relating to quasi-loans, arrangements of a kind described in [F4 that section] relating to quasi-loans and agreements to enter into any of the foregoing transactions and arrangements;

(c) credit transactions, guarantees and securities relating to credit transactions, arrangements of a kind described in [F4 that section] relating to credit transactions and agreements to enter into any of the foregoing transactions and arrangements.

F2 1990 NI 5

F3 Words in Sch. 6 para. 28(a) substituted (1.10.2007 with effect as mentioned in Sch. 4 para. 22(11) of the amending S.I.) by Companies Act 2006 (Commencement No. 3, Consequential Amendments, Transitional Provisions and Savings) Order 2007 (S.I. 2007/2194), arts. 1(3), 10(1), Sch. 4 para. 22(8)(a) (with art. 12)

F4 Words in Sch. 6 para. 28(b)(c) substituted (1.10.2007 with effect as mentioned in Sch. 4 para. 22(11) of the amending S.I.) by Companies Act 2006 (Commencement No. 3, Consequential Amendments, Transitional Provisions and Savings) Order 2007 (S.I. 2007/2194), arts. 1(3), 10(1), Sch. 4 para. 22(8)(b) (with art. 12)

[F5 29.]—(1) To comply with this Part, the accounts must contain a statement, in relation to transactions, arrangements and agreements [F5 made by the company or a subsidiary of it for persons who at any time during the financial year were officers of the company (but not directors or shadow directors)], of—

(a) the aggregate amounts outstanding at the end of the financial year under transactions, arrangements and agreements within sub-paragraphs (a), (b) and (c) respectively of paragraph[F5 28], and

(b) the numbers of officers for whom the transactions, arrangements and agreements falling within each of those sub-paragraphs were made.

(2) This paragraph does not apply to transactions, arrangements and agreements made by the company or any of its subsidiaries for an officer of the company if the aggregate amount outstanding at the end of the financial year under the transactions, arrangements and agreements so made for that officer does not exceed £2,500.

(3) [F6 Section 258 of the Companies Act 2006 (power to increase financial limits)] applies as if the money sum specified in this paragraph were specified in [F7 Part 10 of that Act].

F5 1990 NI 5

F6 Words in Sch. 6 para. 29(3) substituted (1.10.2007 with effect as mentioned in Sch. 4 para. 22(11) of the amending S.I.) by Companies Act 2006 (Commencement No. 3, Consequential Amendments, Transitional Provisions and Savings) Order 2007 (S.I. 2007/2194), arts. 1(3), 10(1), Sch. 4 para. 22(9)(a) (with art. 12)

F7 Words in Sch. 6 para. 29(3) substituted (1.10.2007 with effect as mentioned in Sch. 4 para. 22(11) of the amending S.I.) by Companies Act 2006 (Commencement No. 3, Consequential Amendments, Transitional Provisions and Savings) Order 2007 (S.I. 2007/2194), arts. 1(3), 10(1), Sch. 4 para. 22(9)(b) (with art. 12)

[F8 30.]  The following provisions [F9 of the Companies Act 2006 apply for the purposes of this Part—

(a) section 199 (meaning of “quasi-loan”),

(b) section 202 (meaning of “credit transaction”), and]

and “amount outstanding” means the amount of the outstanding liabilities of the person for whom the transaction, arrangement or agreement was made or, in the case of a guarantee or security, the amount guaranteed or secured.

F8 1990 NI 5

F9 Words in Sch. 6 para. 30 substituted (1.10.2007 with effect as mentioned in Sch. 4 para. 22(11) of the amending S.I.) by Companies Act 2006 (Commencement No. 3, Consequential Amendments, Transitional Provisions and Savings) Order 2007 (S.I. 2007/2194), arts. 1(3), 10(1), Sch. 4 para. 22(10) (with art. 12)