18Debts, charges or options

## 18 Debts, charges or options (1) If: (a) at the end of a financial period, a company holds shares in a corporation or options for shares in a corporation; and (b) in relation to the balance sheet forming part of the accounts of the company as at the end of that period, a note is required to include particulars relating to those shares and options for the purposes of subclause 12 (4); those particulars must include particulars showing the extent to which those shares or options are held: (c) in a related body corporate; or (d) in another corporation. (2) If: (a) at the end of a financial period, debts other than trade debts are due and receivable by or payable by a company (in this subclause referred to as “the subject company”); and (b) in relation to the balance sheet forming part of the accounts of the subject company as at the end of that period, a note is required to include particulars relating to those debts for the purposes of subclause 12 (4); those particulars must include particulars showing the extent to which those debts are due and receivable from or payable to: (c) the chief entity (if any) of the subject company; and (d) any other related body corporate or an entity controlled by the chief entity. (3) If at the end of a financial period there remains in existence a loan made, guaranteed or secured by a company, by the company and one of its controlled entities (if any) or by one or more of its controlled entities to: (a) a director of the company, a spouse of a director, or a relative of a director or spouse; or (b) a director of a related body corporate, a spouse of a director, or a relative of a director or spouse; or (c) a trustee of a trust under which a person referred to in paragraph (a) or (b) has a beneficial interest, if the loan is made to the trustee in his or her capacity as trustee; or (d) a corporation, if a person referred to in paragraph (a) or (b) has a direct or indirect beneficial interest in shares in the corporation the nominal value of which is not less than 10 per cent of the nominal value of the issued share capital of the corporation; the accounts of that company for that period must include a note stating the total amount of that loan or of all such loans. (4) For the purposes of paragraph (3) (d), a person referred to in paragraph (3) (a) or (b) is not to be taken to have a beneficial interest in shares in a corporation only because: (a) the company has a relevant interest in shares in the corporation; and (b) the person has a relevant interest in shares in the company. (5) If: (a) at the end of a financial period, an entity in an economic entity holds shares, or options for shares, in a corporation that is not a corporation in the economic entity; and (b) in relation to the balance sheet forming part of the consolidated accounts at the end of that period, a note is required to include particulars relating to those shares and options for the purposes of subclause 12 (4); those particulars must include particulars showing the extent to which those shares or options are held: (c) in a related body corporate; or (d) in another corporation. (6) If: (a) at the end of a financial period debts other than trade debts are due and receivable by or payable by an entity in an economic entity (in this subclause referred to as “the subject entity”); and (b) in relation to the balance sheet forming part of the consolidated accounts relating to the economic entity as at the end of that period, a note is required to include particulars relating to those debts for the purposes of subclause 12 (4); those particulars must include particulars showing the extent to which those debts are due and receivable from and payable to: (c) the chief entity (if any) of the subject entity; and (d) any other related body corporate. (7) If, at the end of a financial period, there remains in existence a loan made, guaranteed or secured by an entity in an economic entity to: (a) a director of the entity, a spouse of a director, or a relative of a director or spouse; or (b) a director of a related entity, a spouse of a director, or a relative of a director or spouse; or (c) if the loan is made to a trustee of a trust under which a person referred to in paragraph (a) or (b) has a beneficial interest — the trustee; or (d) if a person referred to in paragraph (a) or (b) has a direct or indirect beneficial interest in shares in an entity, the nominal value of which is not less than 10 per cent of the nominal value of the issued share capital of the entity — the entity; the consolidated accounts for that period must include a note stating the total amount of that loan, or all of those loans. (8) For the purposes of paragraph (7) (d), if an entity makes, guarantees or secures a loan to an entity referred to in that paragraph, a person referred to in paragraph (7) (a) or (b) must not be taken to have a beneficial interest in shares in the entity only because: (a) the first-mentioned entity has a relevant interest in shares in the entity so referred to; and (b) the person has a relevant interest in shares in the first‑mentioned entity.