Where a loan is given to a director and/or connected persons by a company if there is no loan agreement in place, what does CA 2014 assume? Directors | Directors Loans | FAQ | Transactions with directors and connected persons If the terms are not stated and no loan agreement is in place then it is assumed in civil proceedings until the contrary is proven that the loan is repayable on demand and subject to interest at a rate of 5% (S.236 & S.2 Companies Act 2014).
