Companies Act 2014 section 1217

Disapplication of sections 325(1)(c) and 329 to a CLG

Section 1217 disapplies certain directors' report requirements relating to shares and debentures for companies limited by guarantee.

• Section 325(1)(c) does not apply to a CLG — this removes the requirement for the directors' report to include information about shares and debentures
• Section 329 does not apply to a CLG — this removes the obligation to disclose directors' interests in shares and debentures
• The disapplication reflects the fact that a CLG does not have a share capital and therefore such disclosures are irrelevant
• All other directors' report requirements continue to apply to a CLG unless separately disapplied