Companies Act 2014 section 313

Requirements of banking law not prejudiced by sections 307 to 312 and minimum monetary threshold for section 312

Section 313 confirms that banking regulatory requirements under the Central Bank Acts are not undermined by the disclosure rules in sections 307 to 312, and sets out minimum monetary thresholds below which certain disclosure obligations for credit institutions' holding companies do not apply.

• The disclosure rules in sections 307 to 312 do not override or limit any requirements imposed under the Central Bank Acts 1942 to 2010, or any other legislation requiring a credit institution's holding company to disclose details of transactions, arrangements, or agreements
• Where the total value of loans, quasi-loans, credit transactions, and related arrangements for an individual director and connected persons does not exceed €7,500 at any time during the financial year, the register and statement requirements under section 312 do not apply for that director
• For other arrangements or transactions in which a director or a connected person had a material interest, the section 312 requirements do not apply if the aggregate value does not exceed €5,000, or if higher, does not exceed the lower of €15,000 or 1% of the net assets of the company preparing the financial statements
• The aggregate value calculation includes both transactions entered into during the financial year and those carried forward from before the year began, reduced by any amounts already repaid