Companies Act 2014 section 308

Supplemental provisions in relation to section 307 (including certain exemptions from its terms)

Section 308 provides supplemental rules, definitions and exemptions that support the disclosure requirements for directors' loans, quasi-loans, credit transactions and guarantees set out in section 307.

• "Director" includes anyone who held office at any time during the financial year, including shadow directors and de facto directors, and disclosure applies to all relevant transactions that existed during the year regardless of when they were entered into
• An exemption applies where the aggregate value of all relevant arrangements for an individual director and connected persons did not exceed €7,500 at any time during the financial year
• Officers who are not directors are also subject to disclosure requirements under section 307(8), but their disclosures must be presented separately from those of directors, and the number of such officers must also be stated
• Key terms such as "quasi-loan", "credit transaction", "guarantee" and "value of the arrangement" take their meanings from section 219, while "connected persons" are determined under section 220

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