{
  "url": "https://openlegislation.uk/school-companies-regulations-2002/regulation-6",
  "json_url": "https://openlegislation.uk/school-companies-regulations-2002/regulation-6.json",
  "legislation": "uksi/2002/2978",
  "legislation_title": "The School Companies Regulations 2002",
  "legislation_url": "https://openlegislation.uk/school-companies-regulations-2002",
  "path": "regulation/6",
  "kind": "regulation",
  "number": "6",
  "heading": "Restriction on entering into contracts in which a director of the company has an interest",
  "text": "(1) If the constitution of a school company permits it to enter into contracts in which a director of the company has an interest, then the constitution shall provide that the company may only enter into such a contract if:–\n(a) the goods or services supplied to the company under the contract are required by the company; and\n(b) the nature and level of consideration is no more than is reasonable in relation to the value of the goods or services.\n(2) For the purposes of paragraph (1), a director has an interest in a contract if the following conditions are met and one of the conditions in paragraph (3) is met:–\n(a) the contract is for the supply of goods or services in return for a payment or other material benefit; and\n(b) the contract is not for the supply of services within the scope of the ordinary duties of the director.\n(3) The conditions in this paragraph are that:–\n(a) the director is a party to the contract;\n(b) a firm of which the director is a partner is party to the contract; or\n(c) a company or unincorporated association of which he is a member, is a party to the contract and where the company of which he is a member is limited by shares, he is a member holding more than 1% of the issued share capital of the company.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/2002/2978/regulation/6",
    "retrieved_at": "2026-10-29T06:38:59.248785+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}