Restrictions on directors taking financial advantage Restrictions on directors taking financial advantage

England, Wales and Scotland

1. 311Prohibition on tax-free payments to directors.
2. 312Payment to director for loss of office etc.
3. 313Company approval for property transfer.
4. 314Director’s duty of disclosure on takeover, etc.
5. 315Consequences of non-compliance with s. 314.
6. 316Provisions supplementing ss. 312 to 315.
7. 317Directors to disclose interest in contracts.
8. 318Directors’ service contracts to be open to inspection.
9. 319Director’s contract of employment for more than 5 years.
10. 320Substantial property transactions involving directors, etc.
11. 321Exceptions from s. 320.
12. 322Liabilities arising from contravention of s. 320.
13. 322AInvalidity of certain transactions involving directors, etc.
14. 322BContracts with sole members who are directors