The Companies Act permits a company to make a loan to a director. A loan or guarantee must be approved by a resolution of the members of the company. A resolution giving the necessary approval can only be passed when a memorandum setting out required matters about the loan is made available to the members.
Information to be included in the memorandum:
There are some exceptions to the requirement to gain member approval including loans where the aggregate value does not exceed £10,000, or where this relates to a credit transaction, if applicable, does not exceed £15,000 or is entered into in the ordinary course of the company's business.
The office is now open Monday to Friday 8.30am to 5.00pm (4.30pm Fridays) and operating in accordance with Government Guidelines
To arrange an appoinment please call the office on 020 8460 0543
