Section 682(2)

The transactions to which this section applies are— where the lending of money is part of the ordinary business of the company, the lending of money in the ordinary course of the company's business; the provision by the company, in good faith in the interests of the company or its holding company, of financial assistance for the purposes of an employees' share scheme; the provision of financial assistance by the company for the purposes of or in connection with anything done by the company (or another company in the same group) for the purpose of enabling or facilitating transactions in shares in the first-mentioned company or its holding company between, and involving the acquisition of beneficial ownership of those shares by— bona fide employees or former employees of that company (or another company in the same group), or spouses or civil partners, widows, widowers or surviving civil partners, or minor children or step-children of any such employees or former employees; the making by the company of loans to persons (other than directors) employed in good faith by the company with a view to enabling those persons to acquire fully paid shares in the company or its holding company to be held by them by way of beneficial ownership.

← 1 · All articles · 3 →

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