Article 9.

Requirement to have at least one director who is a natural person (s.155)

46. If on 8th November 2006 -

(a) none of a company's directors were natural persons, and

(b) section 282 of the 1985 Act or Article 290 of the 1986 Order (requirement as to number of directors) was complied with in relation to the company,

section 155 of the Companies Act 2006 (companies required to have at least one director who is a natural person) does not apply to the company until 1st October 2010.

Duty of directors to avoid conflicts of interest (s.175)

47.

(1) Section 175 of the Companies Act 2006 (duty to avoid conflicts of interest) applies where the situation described in subsection (1) of that section arises on or after 1st October 2008.

(2) The law that applied before that date continues to apply to such a situation that arose before that date.

(3) Section 175(5)(a) of that Act (private companies: authorisation by directors) applies -

(a) to companies incorporated on or after 1st October 2008, and