| 10 11 |
| 6B.20 | The particulars required in respect of loans, quasi-loans and credit transactions entered into by the micro-entity with or for persons who at any time during the reporting period, were directors of the company or of its parent or persons connected with such directors, separately for each director or other person, are: |
| (a) | the name of the person for whom the arrangements were made and where that person is or was connected with a director of the micro-entity or its parent, the name of the director; |
| (b) | the value of the arrangements at the beginning and end of the reporting period; |
| (c) | advances made under the arrangements during the reporting period; |
| (d) | amounts repaid under the arrangements during the reporting period; |
| (e) | the amounts of any allowance made during the reporting period in respect of any failure or anticipated failure by the borrower to repay the whole or part of the outstanding amount; |
| (f) | amounts outstanding under the arrangements waived during the reporting period; |
| (g) | an indication of the interest rate; and |
| (h) | the arrangements' other main conditions. (Section 307(3) of the Companies Act 2014) |
| Additionally, a separate total of the amounts stated for the purposes of each of paragraphs (b) to (f) above, and the amounts stated for the purposes of paragraph (b) expressed as a percentage of the net assets of the micro-entity at the beginning and end of the reporting period shall be disclosed. (Section 307(8)(a) and (c) of the Companies Act 2014) These additional requirements are extended to persons who are officers (but not directors) of the micro-entity or its parent, and separate disclosure in respect of these officers is required on an aggregate basis, as well as the number of officers for whom such arrangements were made. (Section 307(9) of the Companies Act 2014) |
| 6B.21 | The particulars required in respect of an agreement to enter into loans, quasi-loans or credit transactions by the micro-entity with or for persons who at any time during the reporting period, were directors of the company or directors of its parent or persons connected with such directors, are those of subparagraphs (a), (g) and (h) of paragraph 6B.20, and additionally the value of the arrangements agreed to. (Section 307(4) of the Companies Act 2014) |
| All the above disclosures shall be made separately for each director or other person. |
| 10 Other arrangements: Similar disclosures must be given where a micro-entity has been assigned or has assumed any right or obligation or liability which, if it had itself undertaken that right or obligation or liability, would have fallen under these disclosures. (Sections 307(1)(e) and 307(7) of the Companies Act 2014). |
| 11 Exemption: The disclosure requirements in paragraphs 6B.20 to 6B.23 do not apply in relation to an individual director and persons connected with him/her if the aggregate value of all agreements, transactions and arrangements did not, at any time during the reporting period, exceed €7,500 for that director and those persons. Section 308(6) states that references to 'director' are also to be read as references to an 'officer who is not a director' as applicable. (Sections 308(3), 308(5) and 308(6) of the Companies Act 2014). |
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