Loans and other types of transactions with directors
There is a requirement contained in Section 307 for directors to disclose information about any benefits such as loans, quasi-loans, credit transactions and guarantees. Further detail on these types of transactions and the related disclosures are set out here: Directors Loans and Transactions.
Approval and signing of directors’ report
As was the case under previous legislation, the directors’ report is required to be signed by two directors where there are two or more directors. However as the Companies Act 2014 now allows for limited companies to have only one director, the report may be signed by this sole director if applicable.
The directors’ report must also now not just contain a signature but must also state the names of the person(s) signing on behalf of the board.
For more information see Section 332