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Companies Act 1985

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Part XU.K. Enforcement of Fair Dealing by Directors

Restrictions on directors taking financial advantageE+W+S

311 Prohibition on tax-free payments to directors.E+W+S

F1. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

312 Payment to director for loss of office etc.E+W+S

F2. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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313 Company approval for property transfer.E+W+S

F3. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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314 Director’s duty of disclosure on takeover, etc.E+W+S

F4. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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315 Consequences of non-compliance with s. 314.E+W+S

F5. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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316 Provisions supplementing ss. 312 to 315.E+W+S

F6. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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317 Directors to disclose interest in contracts.E+W+S

F7. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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318 Directors’ service contracts to be open to inspection.E+W+S

F8. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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319 Director’s contract of employment for more than 5 years.E+W+S

F9. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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320 Substantial property transactions involving directors, etc.E+W+S

F10. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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F10S. 320 repealed (1.10.2007) by Companies Act 2006 (c. 46), ss. 1295, 1300, Sch. 16; S.I. 2007/2194, art. 8, Sch. 2 Pt. 1 (with art. 12); s. 320 is expressed to be modified (22.2.2008) by S.I. 2008/432, arts. 1(2), 17(1), Sch. para. 1(d)

321 Exceptions from s. 320.E+W+S

F11. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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322 Liabilities arising from contravention of s. 320.E+W+S

F12. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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322A Invalidity of certain transactions involving directors, etc.E+W+S

F13. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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322BContracts with sole members who are directorsE+W+S

F14. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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Share dealings by directors and their familiesE+W+S

323 Prohibition on directors dealing in share options.E+W+S

F15. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F15S. 323 repealed (6.4.2007) by Companies Act 2006 (c. 46), ss. 1177, 1295, 1300, Sch. 16; S.I. 2006/3428, arts. 4(1)(c), 7(c), Sch. 4 Pt. 1 (subject to art. 5, Sch. 1 and with arts. 6, 8, Sch. 5 (as amended by S.I. 2007/3495, art. 11, Sch. 5)); s. 323 is expressed to be modified (22.2.2008) by S.I. 2008/432, arts. 1(2), 17(1), Sch. para. 1(e)

324 Duty of director to disclose shareholdings in own company.E+W+S

F16. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F16S. 324 repealed (6.4.2007) by Companies Act 2006 (c. 46), ss. 1177, 1295, 1300, Sch. 16; S.I. 2006/3428, arts. 4(1)(c), 7(c), Sch. 4 Pt. 1 (subject to art. 5, Sch. 1 and with arts. 6, 8, Sch. 5 (as amended by S.I. 2007/3495, art. 11, Sch. 5)); s. 324 is expressed to be modified (22.2.2008) by S.I. 2008/432, arts. 1(2), 17(1), Sch. para. 1(f)

325 Register of directors’ interests notified under s. 324.E+W+S

F17. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F17S. 325 repealed (6.4.2007) by Companies Act 2006 (c. 46), ss. 1177, 1295, 1300, Sch. 16; S.I. 2006/3428, arts. 4(1)(c), 7(c), Sch. 4 Pt. 1 (subject to art. 5, Sch. 1 and with arts. 6, 8, Sch. 5 (as amended by S.I. 2007/3495, art. 11, Sch. 5)); s. 325 is expressed to be modified (22.2.2008) by S.I. 2008/432, arts. 1(2), 17(1), Sch. para. 1(g)

326 Sanctions for non-compliance.E+W+S

F18. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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327 Extension of s. 323 to spouses [F19, civil partners] and children.E+W+S

F20. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

328 Extension of s. 324 to spouses [F21, civil partners] and children.E+W+S

F22. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

329 Duty to notify stock exchange of matters notified under preceding sections.E+W+S

F23. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

Restrictions on a company’s power to make loans, etc., to directors and persons connected with themE+W+S

330 General restriction on loans etc. to directors and persons connected with them.E+W+S

F24. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F24S. 330 repealed (1.10.2007) by Companies Act 2006 (c. 46), ss. 1295, 1300, Sch. 16; S.I. 2007/2194, art. 8, Sch. 2 Pt. 1 (with art. 12); s. 330 is expressed to be modified (22.2.2008) by S.I. 2008/432, arts. 1(2), 17(1), Sch. para. 1(h)

331 Definitions for ss. 330 ff.E+W+S

F25. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

332 Short-term quasi-loans.E+W+S

F26. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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333 Inter-company loans in same group.E+W+S

F27. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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334 Loans of small amounts.E+W+S

F28. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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335 Minor and business transactions.E+W+S

F29. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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336 Transactions at behest of holding company.E+W+S

F30. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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337 Funding of director’s expenditure on duty to company.E+W+S

F31. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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337AFunding of director’s expenditure on defending proceedingsE+W+S

F32. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

338 Loan or quasi-loan by money-lending company.E+W+S

F33. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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339“Relevant amounts” for purposes of ss. 334 ff.E+W+S

F34. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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340“Value” of transactions and arrangements.E+W+S

F35. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

341 Civil remedies for breach of s. 330.E+W+S

F36. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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342 Criminal penalties for breach of s. 330.E+W+S

F37. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

343 Record of transactions not disclosed in company accounts.E+W+S

F38. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

344 Exceptions from s. 343.E+W+S

F39. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

SupplementaryE+W+S

345 Power to increase financial limits.E+W+S

F40. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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346“Connected persons”, etc.E+W+S

F41. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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347 Transactions under foreign law.E+W+S

F42. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

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