Amendment of Schedule 9 etc5
1
Part IV of Schedule 9 to the 1985 Act (additional disclosure: emoluments and other benefits of directors and others)5 is amended as follows.
2
In paragraph 1, for the words “the holding company of such a company” there shall be substituted the words “the holding company of a credit institution”.
3
For paragraph 2 there shall be substituted—
2
Where a banking company, or a company which is the holding company of a credit institution, prepares annual accounts for a financial year, it need not comply with the provisions of Part II of Schedule 6 (loans, quasi-loans and other dealings) 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 or (as the case may be) credit institution is a party.
4
In sub-paragraph (1) of paragraph 3, for the words from the beginning to “that banking company for—” there shall be substituted the words “Where a banking company, or a company which is the holding company of a credit institution, takes advantage of the provisions of paragraph 2 of this Part of this Schedule for the purposes of its annual accounts for a financial year, then, in preparing those accounts, it shall comply with the provisions of Part III of Schedule 6 (other transactions, arrangements and agreements) only in relation to a transaction, arrangement or agreement made by that banking company or (as the case may be) credit institution for—”.
5
In paragraph 3(4) and (5), for the word “company” there shall be substituted the words “body corporate”.