Director’s loan resourcesWritten notice of director's interest in proposed loan
A written notice can be submitted to the company by a director wishing to declare their interest in a proposed company loan. The notice should be sent in hard copy or electronic form to the other directors.
This template can be amended to allow the director to provide details of their interest and can also be used to propose a meeting of the directors to consider the planned loan.
This download is associated with When does a director's loan need shareholder approval?
Written notice of director's interest in proposed loan to connected person
A written notice can be submitted to the company by a director wishing to declare their interest in a proposed company loan. The notice should be sent in hard copy or electronic form to the other directors.
This template is for use when the proposed loan is to a person 'connected' to the director and can also be used to propose a meeting of the directors to consider the planned transaction. It is fully editable.
This download is associated with When does a director's loan need shareholder approval?
Board minute approving a company loan to a director
These template board minutes can be used to document discussion of a proposed company loan to a director, and if the directors' are satisfied that the loan is in the best interests of the company, to document board approval of the loan.
This template can be tailored to reflect the details of the proposed director's loan. It can also be used where shareholder approval is required for a company loan to a director.
This download is associated with When does a director's loan need shareholder approval?
Written shareholders' resolution to approve a company loan to a director
A written resolution, signed by a simple majority of eligible shareholders, is usually sufficient to authorise a company loan to a director. However, you should check your company's articles of association, as these may require a higher degree of shareholder approval.
This template can be used when a copy of the resolution is to be sent to each shareholder. A memorandum detailing the loan should also be attached to the resolution. A template memorandum is available below.
This download is associated with When does a director's loan need shareholder approval?
Shareholders' resolution to approve a company loan to a director
An ordinary resolution, passed by a simple majority of eligible shareholders, is usually sufficient to authorise a company loan to a director. However, you should check your company's articles of association, as these may require a higher degree of shareholder approval.
This template resolution can be used where the loan is to be authorised by shareholder vote at a general meeting. A memorandum detailing the loan should be available at the company's registered office for at least 15 days ahead of the vote and at the meeting. A template memorandum is available below.
This download is associated with When does a director's loan need shareholder approval?
Memorandum of terms of loan
Where shareholder approval is required for a company loan to a director, this template memorandum can be tailored to provide details of the loan.
If shareholder approval will be sought by vote at a general meeting, the memorandum must be available at the company's registered office address for at least 15 days ahead of the meeting, as well as at the meeting itself. If the shareholders' resolution is to be passed in writing, the memorandum must be attached to the resolution to be sent to all members.
This download is associated with When does a director's loan need shareholder approval?
