Section 413(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— whenever it was entered into, whether or not the person concerned was a director of the company in question at the time it was entered into, and 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.

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Source: legislation.gov.uk · retrieved 2026-09-04