SCHEDULES

F1F1SCHEDULE 7

Annotations:
Amendments (Textual)

Part IV [Part IV of Schedule 9 to the Companies Act 1985]

Additional Disclosure: Emoluments and Other Benefits of Directors and Others

1

The provisions of this Part of this Schedule have effect with respect to the application of Schedule 6 (additional disclosure: emoluments and other benefits of directors and others) to a banking company or the holding company of such a company.

Loans, quasi-loans and other dealings

2

Part II of Schedule 6 (loans, quasi-loans and other dealings) does not apply for the purposes of accounts prepared by a banking company, or a company which is the holding company of a banking company, in relation to a transaction or arrangement of a kind mentioned in section 330, or an agreement to enter into such a transaction or arrangement, to which that banking company is a party.

Other transactions, arrangements and agreements

3

1

Part III of Schedule 6 (other transactions, arrangements and agreements) applies for the purposes of accounts prepared by a banking company, or a company which is the holding company of a banking company, only in relation to a transaction, arrangement or agreement made by that banking company for—

a

a person who was a director of the company preparing the accounts, or who was connected with such a director, or

b

a person who was a chief executive or manager (within the meaning of the M1Banking Act 1987) of that company or its holding company.

2

References in that Part to officers of the company shall be construed accordingly as including references to such persons.

3

In this paragraph “director” includes a shadow director.

4

For the purposes of that Part as it applies by virtue of this paragraph, a company which a person does not control shall not be treated as connected with him.

5

Section 346 of this Act applies for the purposes of this paragraph as regards the interpretation of references to a person being connected with a director or controlling a company.