Sch 1 para 66 Related party transactions
(1) Particulars may be given of transactions which the company has entered into with related parties, and must be given if such transactions are material and have not been concluded under normal market conditions with— (a) owners holding a participating interest in the company; (b) companies in which the company itself has a participating interest; and (c) the company's directors. (2) Particulars of the transactions required to be disclosed under sub-paragraph (1) must include— (a) the amount of such transactions, (b) the nature of the related party relationship, and (c) other information about the transactions necessary for an understanding of the financial position of the company. (3) Information about individual transactions may be aggregated according to their nature, except where separate information is necessary of an understanding of the effects of the related party transactions on the financial position of the company. (4) Particulars need not be given of transactions entered into between two or more members of a group, provided that any subsidiary undertaking which is a party to the transaction is wholly-owned by such a member. (5) In this paragraph, “ related party ” has the same meaning as in UK-adopted international accounting standards .