Declaration of interest in existing transaction or arrangement (ss.182 to 187)
50.—(1) Sections 182 to 187 of the Companies Act 2006 (declaration by director of interest in existing transaction or arrangement) apply in relation to transactions or arrangements entered into by a company on or after 1st October 2008.
(2) Section 317 of the 1985 Act or Article 325 of the 1986 Order continues to apply in relation to transactions or arrangements entered into before that date.
(3) For the purposes of section 182(1) of the Companies Act 2006 (declaration of interest in existing transaction not previously declared under section 177), a declaration of interest made before 1st October 2008 under section 317 of the 1985 Act or Article 325 of the 1986 Order is treated on and after that date as if made under section 177.
(4) For the purposes of section 182(3) of the Companies Act 2006 (previous declaration under that section proving or becoming inadequate), a declaration of interest made before 1st October 2008 under section 317 of the 1985 Act or Article 325 of the 1986 Order is treated on and after that date as if made under section 182.