Section 133 - Particulars of amounts due from officers

(1) Subject to this section, there shall be separately shown in a note to the financial statements of a company, the following:

(a) the individual and aggregate amounts of money due to the company or an associated company at the end of the financial year of the company from an officer of the company or an associated company; and

(b) the maximum amount of money due to the company and an associated company at any time during the financial year of the company from any officer of the company or an associated company.

(2) Where the company or an associated company gives a guarantee or security to a person in respect of an indebtedness of an officer of the company or an associated company, the amount guaranteed or in respect of which the security was given, shall be included in the amounts to be shown under subsection (1).

(3) Despite subsections (1) and (2), the following do not require to be separately shown:

(a) an indebtedness incurred as a result of a transaction in the ordinary course of business by the company or an associated company unless the indebtedness has not been discharged as and when the payment was due;

(b) a loan made in the ordinary course of business by a company, the ordinary business of which includes the lending of money; or

(c) a loan made by the company or an associated company to an officer of the company or associated company if the loan does not exceed five thousand currency points or two percent of the stated capital of the company concerned, whichever is less, and is certified by the directors of the company concerned to have been made in accordance with a practice adopted, or about to be adopted, by that company with respect to loans to those employees.

(4) Paragraphs (b) and (c) of subsection (3) shall not include a loan made by a company under a guarantee from or on security provided by an associated company.

(5) A reference in this section to an associated company includes a company which is an associated company at the end of the financial year of the company, whether or not an associated company at the date of the transaction concerned.

(6) This section does not derogate from section 328 prohibiting loans by public companies to directors of the company or directors of associated companies.