Companies Act 1967 (c. 81)

PART I Amendments of Law with respect to Companies generally

Directors: Penalization of Dealing by them, their Spouses or Children in certain Options and Provisions for securing Disclosure of certain material Facts concerning them

30 Extension of section 25 to spouses and children.

(1) Section 25 of this Act shall apply to—

(a) the wife or husband of a director of a company, not being herself or himself a director of that company; and

(b) an infant son or infant daughter of a director of a company, not being himself or herself a director of that company;

as it applies to the director ; but it shall be a defence for a person charged, by virtue of this subsection, with an offence under that section, to prove that he had no reason to believe that his spouse or, as the case may be, parent, was a director of the company in question.

(2) In this section, " son " includes step-son and adopted son, " daughter " includes step-daughter and adopted daughter and " parent " shall be construed accordingly, " infant " means, in relation to Scotland, pupil or minor, and a person deemed for the purposes of the said section 25 to be a director of a company shall be deemed also for the purposes of this section to be a director of the company.