Director / Shareholder purchase of company property

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Director
21 Points Posted on 28 April 2024

Is a Director / and Shareholder who is purchasing land from his own private limited company considered a related party transaction?  All other Directors and shareholders are family members. What board and EGM meetings and resolutions need to be passed to be able to complete this sale? thank you

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On 28 April 2024 at 07:24 Report
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Quick Summary
This discussion clarifies that a director and shareholder purchasing land from their own private limited company is indeed considered a related party transaction. It highlights the need for separate board and potentially EGM resolutions to formalise the sale, and suggests consulting a Company Secretary for appropriate documentation.

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Practising CA
8954 Points Posted on 28 April 2024
Yes it is a related party transaction. A CS would help you better with the documentation.
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On 28 April 2024 at 11:02
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Profession
28271 Points Posted on 29 April 2024
Yes its a related party transaction . Seperate resolution needs to be kept.
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On 29 April 2024 at 06:51

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