175. Declaration Of Interest In Case Of Company With Sole Director

Past version: effective from 29/04/2020 - 28/04/2020
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(1) Where a declaration of interest under section 171 (declaration of 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 272 (minutes of directors’ meetings) apply as if the declaration had been made at that meeting.
(2) Nothing in this section affects the operation of section 218 (contract with sole member who is also a director).