Textual Amendments
F1Sch. 9 Pts. I-V (paras. 2-36) renumbered as Part I by Companies Act 1989 (c. 40, SIF 27), ss. 18(3)(4), 213(2), Sch. 7 (subject to the transitional and saving provisions mentioned in S.I. 1990/355, arts. 6-9)
F2Sch. 9: heading substituted (2.12.1991) by virtue of S.I. 1991/2705, regs. 5(3), 9
Modifications etc. (not altering text)
C1Sch. 9 (except para. 2(a)-(d), para. 3(c)-(e) and para. 10(1)(c)) applied with modifications by S.I. 1985/680, regs. 4-6, Sch.
Textual Amendments
F3Sch. 9 Pts. II–IV added by Companies Act 1989 (c. 40, SIF 27), ss. 18(3)(4), 213(2), Sch. 7 (subject to the transitional and saving provisions mentioned in S.I. 1990/355, arts. 6–9) (Sch. 7 of the 1989 Act providing that the provisions have effect as Pts. II to IV of Sch. 9)
1The 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 [F4the holding company of a credit institution].
Textual Amendments
F4Words in Sch. 9 Pt. IV para. 1 substituted (28.2.1994) by S.I. 1994/233, reg. 5(1)(2)
[F52Where 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 [F6section 197, 198, 200, 201 or 203 of the Companies Act 2006] , 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.]
Textual Amendments
F5Sch. 9 Pt. IV para. 2 substituted (28.2.1994) by S.I. 1994/233, reg. 5(1)(3)
F6Words in Sch. 9 Pt. 4 para. 2 substituted (1.10.2007 with application in accordance with Sch. 4 para. 7(2) of the amending S.I.) by The Companies Act 2006 (Commencement No. 3, Consequential Amendments, Transitional Provisions and Savings) Order 2007 (S.I. 2007/2194), art. 10(1), Sch. 4 para. 7(1)(a) (with art. 12)
3[F7Where 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—]
(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 F8. . . 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.
[F9(3)In this paragraph—
(a)“director” includes a shadow director;
(b)“chief executive” has the meaning given in section 417 of the Financial Services and Markets Act 2000; and
(c)“manager” has the meaning given in section 423(3) of that Act.]
(4)For the purposes of that Part as it applies by virtue of this paragraph, a [F10body corporate] which a person does not control shall not be treated as connected with him.
(5)[F11Sections 252 to 255 of, and Schedule 1 to, the Companies Act 2006 apply] for the purposes of this paragraph as regards the interpretation of references to a person being connected with a director or controlling a [F10body corporate].
Textual Amendments
F7Words in Sch. 9 Pt. IV para. 3(1) substituted (28.2.1994) by S.I. 1994/233, reg. 5(1)(4)
F8Words in Sch. 9 Pt. IV para. 3(1)(b) repealed (3.7.2002) by The Financial Services and Markets Act 2000 (Consequential Amendments) Order 2002 (S.I. 2002/1555), art. 12(2)
F9Sch. 9 Pt. IV para. 3(3) substituted (3.7.2002) by The Financial Services and Markets Act 2000 (Consequential Amendments) Order 2002 (S.I. 2002/1555), art. 12(3)
F10Words in Sch. 9 Pt. IV para. 3(4)(5) substituted (28.2.1994) by S.I. 1994/233, reg. 5(1)(5)
F11Words in Sch. 9 Pt. 4 para. 3(5) substituted (1.10.2007 with application in accordance with Sch. 4 para. 7(2) of the amending S.I.) by The Companies Act 2006 (Commencement No. 3, Consequential Amendments, Transitional Provisions and Savings) Order 2007 (S.I. 2007/2194), art. 10(1), Sch. 4 para. 7(1)(b) (with art. 12)
3Part 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 Banking Act M11987) 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.
Marginal Citations