- Y Diweddaraf sydd Ar Gael (Diwygiedig)
- Pwynt Penodol mewn Amser (14/06/2023)
- Gwreiddiol (Fel y'i Deddfwyd)
Point in time view as at 14/06/2023.
Companies Act 2006, Section 413 is up to date with all changes known to be in force on or before 09 September 2024. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
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(1)In the case of a company that does not prepare group accounts, details of—
(a)advances and credits granted by the company to its directors, and
(b)guarantees of any kind entered into by the company on behalf of its directors,
must be shown in the notes to its individual accounts.
(2)In the case of a parent company that prepares group accounts, details of—
(a)advances and credits granted to the directors of the parent company, by that company or by any of its subsidiary undertakings, and
(b)guarantees of any kind entered into on behalf of the directors of the parent company, by that company or by any of its subsidiary undertakings,
must be shown in the notes to the group accounts.
(3)The details required of an advance or credit are—
(a)its amount,
(b)an indication of the interest rate,
(c)its main conditions, F1...
(d)any amounts repaid.
[F2(e)any amounts written off, and
(f)any amounts waived.]
(4)The details required of a guarantee are—
(a)its main terms,
(b)the amount of the maximum liability that may be incurred by the company (or its subsidiary), and
(c)any amount paid and any liability incurred by the company (or its subsidiary) for the purpose of fulfilling the guarantee (including any loss incurred by reason of enforcement of the guarantee).
(5)There must also be stated in the notes to the accounts the totals—
(a)of amounts stated under subsection (3)(a),
(b)of amounts stated under subsection (3)(d),
[F3(ba)of amounts stated under subsection 3(e),
(bb)of amounts stated under subsection 3(f),]
(c)of amounts stated under subsection (4)(b), and
(d)of amounts stated under subsection (4)(c).
(6)References in this section to the directors of a company are to the persons who were [F4directors] at any time in the financial year to which the accounts relate.
(7)The requirements of this section apply in relation to every advance, credit or guarantee subsisting at any time in the financial year to which the accounts relate—
(a)whenever it was entered into,
(b)whether or not the person concerned was a director of the company in question at the time it was entered into, and
(c)in the case of an advance, credit or guarantee involving a subsidiary undertaking of that company, whether or not that undertaking was such a subsidiary undertaking at the time it was entered into.
(8)Banking companies and the holding companies of credit institutions need only state the details required by [F5subsection (5)(a) and (c)].
Textual Amendments
F1Word in s. 413(3)(c) omitted (with effect in accordance with reg. 2(2)-(5) of the amending S.I.) by virtue of The Companies, Partnerships and Groups (Accounts and Reports) Regulations 2015 (S.I. 2015/980), regs. 2(1), 5(16)(a)(i) (with reg. 3)
F2S. 413(3)(e)(f) inserted (with effect in accordance with reg. 2(2)-(5) of the amending S.I.) by The Companies, Partnerships and Groups (Accounts and Reports) Regulations 2015 (S.I. 2015/980), regs. 2(1), 5(16)(a)(ii) (with reg. 3)
F3S. 413(5)(ba)(bb) inserted (with effect in accordance with reg. 2(2)-(5) of the amending S.I.) by The Companies, Partnerships and Groups (Accounts and Reports) Regulations 2015 (S.I. 2015/980), regs. 2(1), 5(16)(b) (with reg. 3)
F4Word in s. 413(6) substituted (with effect in accordance with reg. 2(2)-(5) of the amending S.I.) by The Companies, Partnerships and Groups (Accounts and Reports) Regulations 2015 (S.I. 2015/980), regs. 2(1), 5(16)(c) (with reg. 3)
F5Words in s. 413(8) substituted (23.12.2009) by The Companies Act 2006 (Amendment of Section 413) Regulations 2009 (S.I. 2009/3022), reg. 2 (with application as mentioned in reg. 1(2))
Modifications etc. (not altering text)
C1Ss. 380-416 applied (with modifications) (1.10.2009) by The Unregistered Companies Regulations 2009 (S.I. 2009/2436), regs. 3-5, Sch. 1 para. 10 (with transitional provisions and savings in regs. 7, 9, Sch. 2)
C2Ss. 380-414 applied (with modifications) (1.10.2009) by S.I. 2009/2436, regs. 3-5, Sch 1 para. 10 (with reg. 7, Sch. 2) (and the said Sch. 1 para. 10 is amended (with application in accordance with reg. 1(3) of the amending S.I.) by The Unregistered Companies (Amendment) Regulations 2013 (S.I. 2013/1972), regs. 1(2), 2(2)(a))
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