413 Information about directors' benefits: advances, credit and guarantees
413 Information about directors' benefits: advances, credit and guarantees
Companies Act 2006 | Legislation

(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,