Part 10U.K.A company's directors

Modifications etc. (not altering text)

Chapter 3U.K.Declaration of interest in existing transaction or arrangement

186Declaration of interest in case of company with sole directorU.K.

(1)Where a declaration of interest under section 182 (duty to declare interest in existing transaction or arrangement) is required of a sole director of a company that is required to have more than one director—

(a)the declaration must be recorded in writing,

(b)the making of the declaration is deemed to form part of the proceedings at the next meeting of the directors after the notice is given, and

(c)the provisions of section 248 (minutes of meetings of directors) apply as if the declaration had been made at that meeting.

(2)Nothing in this section affects the operation of section 231 (contract with sole member who is also a director: terms to be set out in writing or recorded in minutes).

Modifications etc. (not altering text)

C4Ss. 182-186 modified (8.00 a.m. on 29.9.2008) by the The Bradford & Bingley plc Transfer of Securities and Property etc. Order 2008 (S.I. 2008/2546), art. 13(1)(3), Sch. 1 para. 2(f)

C5Ss. 182-186 modified (9.30 a.m. on 7.10.2008) by The Heritable Bank plc Transfer of Certain Rights and Liabilities Order 2008 (S.I. 2008/2644), art. 26, Sch. 2 para. 2(f)

C6Ss. 182-186 modified (retrospective to 30.3.2009 at 8.00 a.m.) by The Amendments to Law (Resolution of Dunfermline Building Society) Order 2009 (S.I. 2009/814), arts. 1(2), 7, Sch. para. 2(f)