UK Companies Act 2006
Part 10 Chapters 3 to 6 and Part 12: Declarations of interest, transactions requiring members' approval, service contracts, secretaries – UK Companies Act 2006

UK Companies Act 2006 177-187: Declare interests in proposed and existing transactions or arrangements

What does 177-187 require?

A director who is in any way, directly or indirectly, interested in a proposed transaction or arrangement with the company must declare the nature and extent of the interest to the other directors before the company enters into it, by a board meeting, written notice or general notice, and update a declaration that proves inaccurate or incomplete (section 177; exceptions where the director is unaware, the interest cannot reasonably be regarded as likely to give rise to a conflict, or the other directors already know). An interest in an existing transaction must be declared under section 182 as soon as reasonably practicable, and failure to declare under section 182 is an offence (section 183); sections 184 to 187 cover written and general notices and shadow directors. Sole directors of companies required to have more than one director must record the declaration in writing (section 186).

Maintained by Gerard Blokdyk

Other controls in Part 10 Chapters 3 to 6 and Part 12: Declarations of interest, transactions requiring members' approval, service contracts, secretaries – UK Companies Act 2006

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