Companies Act 1985

[F1 30] The following provisions of this Act apply for purposes of this Part—

(a) section 331(2), (3), . . . F2 and (7), as regards the meaning of “guarantee”, “quasi-loan”, . . . F2 and “credit transaction”, and

(b) section 331(9), as to the interpretation of references to a transaction or arrangement being made “for” a person;

and “amount outstanding” means the amount of the outstanding liabilities of the person for whom the transaction, arrangement or agreement was made or, in the case of a guarantee or security, the amount guaranteed or secured.

Textual Amendments

F1 Sch. 6 Pt. III paras. 15–17 (old) renumbered as paras. 28 to 30 and internal cross-references in the present Part renumbered accordingly by Companies Act 1989 (c. 40, SIF 27), s. 6(4), Sch. 4 para. 6(2) (subject to the transitional and saving provisions mentioned in S.I. 1990/355, arts. 6–9)

F2 Words repealed by Banking Act 1987 (c. 22, SIF 10), s. 108(2), Sch. 7 Pt. I