Section 13A

Sections 162 and 163 of the Companies Act 1967 apply to a licensed housing developer which is an exempt private company subject to the modification that any reference in those sections to an exempt private company does not include a reference to the licensed housing developer; and every such licensed housing developer must comply with the prohibitions in section 162 (relating to loans to its directors) and section 163 (relating to loans to persons connected with the directors of the lending company) of that Act as if it were not an exempt private company.

In this section, “exempt private company” has the meaning given by section 4(1) of the Companies Act 1967.