Companies Act 2014
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Application of sections 310 to 313 | ||
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1120. (1) For the purposes of this Part, sections 310 to 313 shall apply as if, in those sections, there were substituted for the references to a holding company of a credit institution preparing financial statements references to a PLC that is a credit institution preparing financial statements; but this adaptation does not displace those sections' application in cases where— | ||
(a) the holding company of the company concerned is a PLC that is a credit institution, or | ||
(b) both the holding company and the company concerned are credit institutions. | ||
(2) In particular, that adaptation does not limit the provisions of sections 310 to 313 that operate by reference to something that has been done to or in relation to a person connected with a director of a holding company of another company. | ||
(3) Accordingly any exemption conferred, or requirement imposed, by any of those sections applies in respect of a transaction, arrangement or agreement (being a transaction, arrangement or agreement to which the PLC hereafter mentioned is a party) that is entered into or made with or for— | ||
(a) a person connected with a director of a holding company of a PLC which PLC is a credit institution, or | ||
(b) an officer of such a PLC, | ||
as it applies in respect of a transaction, arrangement or agreement (being a transaction, arrangement or agreement to which such a PLC is a party) entered into or made with or for— | ||
(i) a person connected with a director of such a PLC, or | ||
(ii) an officer of such a PLC. | ||
(4) Section 312 (3) to (6) shall not apply to a credit institution which is the wholly owned subsidiary of a company incorporated in the State. |