BALANCE SHEET AND AUDIT 17Q
(vii)

If any of the liabilities of the company consist of
indebtedness to a subsidiary company, show as a
separate item the aggregate amount of such indebted-
ness (s. 125).
The accounts submitted to the meeting must also

1) If interest has in any year been paid out of capital
under s. 54, show the share capital on which and the
rate at which interest has been so paid [s. 54 (1) (g)].
Contain particulars of any loans made either by the
company or any other person under a guarantee from
or on a security provided by the company to any
director or officer of the company during the period
covered by the account (whether repaid or not) and
particulars of any such loans made before the com-
mencement of the period covered by the account and
outstanding at the expiration of such period [s. 128
(1) (a) (6)]. Particulars need not, however, be given
of loans made in the ordinary course of business by a
company whose ordinary business includes the lending
of money or of a loan to any employee if the loan does
not exceed £2000 and is certified by the directors to
have been made in accordance with the usual practice
of the company as regards loans to employees. It is
thought that a director would not be an employee within
this exception [s. 128 (2)].
State the total remuneration paid to or receivable by
the directors as remuneration for their services from
the company or any of its subsidiary companies
excluding managing directors’ remuneration and
any remuneration paid to any other director, not as
director, but in respect of some other salaried office
or employment in the company held by him [s. 128 (1)
'c) and (3)].

3)

As to the meaning of remuneration see s. 128 (5). Where
the Act requires information to be included in the accounts
submitted to the annual meeting, but doesnot expressly provide
that it shall be given in the balance sheet, the question arises
whether it must be included in the accounts circulated among
the members pursuant to s. 130. It has been suggested that
it is sufficient if the information is included in the full accounts
to be laid before the meeting; but it is thqught that is not
enough, at any rate so far as the information refers to items
included in the balance sheet; for the information (see s. 128),
has to be included in the accounts ‘to be laid before every