Explanatory statement and file content checklist, related party transactions
A single format from the Related Party Transactions, Section 188 pack. Rule 15(1) and 15(3).
- 1 page
- 47
- Word and PDF
- 12 September 2026
What it covers
- 1Explanatory statement and file content checklist, related party transactionsRule 15(1) and 15(3)
Read the opening
The first part of the format, as it downloads. Blanks are highlighted.
Internal checklist — to be completed and signed before the Board meeting
Company: [Company's name] Related party: [Related party's name] Financial year: [20__-__] Prepared by: [Name of the person who prepared the checklist]
# | Item | Done | Reference on file |
|---|---|---|---|
1 | Transaction mapped to a clause of s.188(1)(a) to (g) — clause identified | [Y/N] | [____] |
2 | Counterparty tested against every limb of s.2(76); limb identified in writing | [Y/N] | [____] |
3 | For a private company — s.2(76)(viii) disapplied under G.S.R. 464(E); confirmed no default under s.92 or s.137 so the exemption is available | [Y/N] | [____] |
4 | Turnover and net worth taken from the audited financial statement of the preceding financial year; figures noted | [Y/N] | [____] |
5 | Aggregate value for the whole financial year computed, not transaction by transaction; Rule 15(3) threshold tested | [Y/N] | [____] |
6 | Ordinary course of business — objects clause extract and evidence of similar dealings with unrelated parties | [Y/N] | [____] |
7 | Arm's length — at least two dated comparable quotations, price list, valuation report or benchmarking study | [Y/N] | [____] |