- Latest available (Revised)
- Original (As made)
1. Section 288 of the 1985 Act (register of directors).
2. The following provisions of the 2006 Act—
(a)section 84 (criminal consequences of failure to make required disclosure);
(b)section 162 (register of directors);
(c)section 165 (register of directors’ residential addresses);
(d)section 167 (duty to notify registrar of changes);
(e)sections 170 to 177 (general duties of directors);
(f)sections 182 to 186 (declaration of interest in existing transactions) as applied to shadow directors by section 187;
(g)sections 188 and 189 (directors’ service contracts);
(h)sections 190 to 196 (substantial property transactions);
(i)sections 197 to 214 (loans etc to directors);
(j)sections 215 to 222 (payments for loss of office) as applied to shadow directors by section 223(2);
(k)sections 227 to 230 (directors’ service contracts);
(l)section 231 (contracts with sole members who are directors);
(m)sections 260 to 269 (derivative claims in England and Wales and Northern Ireland);
(n)sections 854 to 859 (annual return);
(o)section 1255 (offences by bodies corporate, partnerships and unincorporated associations).
3. The following provisions of the Insolvency Act 1986(1)—
(a)section 214 (wrongful trading);
(b)section 249 (“connected” with a company).
4. The following provisions of FSMA—
(a)section 96A (disclosure of information requirements);(2)
(b)section 96B (disclosure rules: persons responsible for compliance).(3)
Explanatory Memorandum sets out a brief statement of the purpose of a Statutory Instrument and provides information about its policy objective and policy implications. They aim to make the Statutory Instrument accessible to readers who are not legally qualified and accompany any Statutory Instrument or Draft Statutory Instrument laid before Parliament from June 2004 onwards.
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