# Companies Act 1985, Paragraph 23

Extent: E+W+S+N.I.

In paragraph 22(2) above, sub-paragraphs (c) to (f) do not apply in the case of a loan or quasi-loan made or agreed to be made by a company to or for a body corporate which is either—
(a) a body corporate of which that company is a wholly-owned subsidiary, or
(b) a wholly-owned subsidiary of a body corporate of which that company is a wholly-owned subsidiary, or
(c) a wholly-owned subsidiary of that company,
if particulars of that loan, quasi-loan or agreement for it would not have been required to be included in that company’s annual accounts if the first-mentioned body corporate had not been associated with a director of that company at any time during the relevant period.

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Source: https://www.legislation.gov.uk/ukpga/1985/6/schedule/6/paragraph/23 (the official version)
Page: https://openlegislation.uk/companies-act-1985/schedule-6/paragraph-23
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.