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COMPANIES (AMENDMENT) BILL 1988
it is reasonable to expect the authorized financial institution to have offered to or in respect of a person of the sa financial standing as that person but unconnected with authorized financial institution; or
(b) where the transaction in question does not fall within paragraph (a), the aggregate of the following amounts does not exceed $10,000,000-
(i) the maximum amount outstanding, in respect of principal and interest, during the financial year on all loans (other than loans falling within paragraph (a)) made by the authorized financial institution to that person; and
(ii) the amount representing the maximum liability of the authorized financial institution during the financial year under all guarantees entered into and in respect of every security provided by the authorized financial institution (not being transactions falling within paragraph (a)) in connection with loans made to that person.
(4B) In the case of a company which is an authorized financial institution, the accounts of the company shall contain a statement showing--
(a) the aggregate of the following amounts as at the end of the
financial year—
(i) the amount outstanding, in respect of principal and interest, on every relevant loan made after 31 August 1984 by the company; and
(ii) the amount representing the maximum liability of the company under all guarantees entered into, and in respect of any security provided, by that company in connection with any relevant loan made after 31 August 1984 by any person;
and
(b) the maximum aggregate of the amounts referred to in
paragraph (a) that obtained during the financial year.
(4C) In the case of a company which is the holding company of an authorized financial institution the accounts (or, if group accounts are required to be prepared under section 124 dealing with the authorized financial institution, the group accounts) of the company shall contain a statement showing-
(a) the aggregate of the following amounts as at the end of
the financial year-
(i) the amount outstanding, in respect of principal and interest, on every loan made to an officer of the company (whether or not he was an officer of the company at the time the loan was made) after 31 August 1984 by the authorized financial institution; and
(ii) the amount representing the maximum liability of the authorized financial institution under all guarantees entered into, and in respect of any security provided, by that authorized financial institution in connection with any loan made to an officer of the company (whether or not he was an officer of the company at the time the loan was made) after 31 August 1984 by any person; and
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