Companies Act 2014

319.

Financial assistance for purchase of own shares

319. (1) F120 [ Subject to subsection (4) , the entity financial statements of a company ] shall show the aggregate amount of financial assistance provided by the company, in the financial year to which the financial statements relate, that is permitted by section 82 (including the aggregate amount of any outstanding loans, guarantees and securities at the financial year end date) and shall separately disclose the aggregate of—

(a) the amount of any money provided, in that financial year, by the company in accordance with a scheme referred to in section 82(6)(f) , and

(b) the amount of any loans referred to in section 82(6)(g) that have been made in that financial year by the company.

(2) F121 [ Subject to subsection (4) , where a company ] prepares group financial statements, those group financial statements shall contain the information required by subsection (1) for the company and its subsidiary undertakings included in the consolidation taken as a whole.

(3) The entity and group financial statements shall show for the financial year immediately preceding the financial year to which those statements relate amounts corresponding to the amounts required to be shown by subsection (1) in those statements for the latter year.

F122 [ (4) A company that qualifies for the small companies regime or the micro companies regime shall be exempt from the requirements of this section. ]

Annotations

Amendments:

F120

Substituted (9.06.2017) by Companies (Accounting) Act 2017 (9/2017), s. 35(a), S.I. No. 246 of 2017, art. 3, subject to transitional provision in art. 4.

F121

Substituted (9.06.2017) by Companies (Accounting) Act 2017 (9/2017), s. 35(b), S.I. No. 246 of 2017, art. 3, subject to transitional provision in art. 4.

F122

Inserted (9.06.2017) by Companies (Accounting) Act 2017 (9/2017), s. 35(c), S.I. No. 246 of 2017, art. 3, subject to transitional provision in art. 4.

Modifications (not altering text):

C49

Application of section restricted (1.01.2020) by European Union (Qualifying Partnerships: Accounting and Auditing) Regulations 2019 (S.I. No. 597 of 2019), reg. 15, in effect as per reg. 1(2), (3).

Non-application of certain provisions of Principal Act

15. Sections 281 to 286, 305A, 312, 318, 319, 325(1)(c), (d) and (e), 326(1)(c) and (d) and (2)(d), 328, 338, 339, 341, 375, 381 to 385, 392, 396 to 398, 401 and 402 of the Principal Act shall not apply to a qualifying partnership.