Is Co Sec a Connected Party for the purpose of a loan

[Negotiator]

Hi,

If an individual lends a company money as a commercial loan but this individual also happens to be a secretary of the company taking out the loan, is this individual considered to be a connected party or would that only apply if he was a director?

Thanks.

 

[T McGibney]

In what context are you posing the question?

 

[Negotiator]

Hi T McGibney,

The individual has a charge over a property from the loan. If the company were ever to be sued for whatever reason, could this charge be called into question because the money was lent potentially by a connected party hence why I want to know if he is considered a connected party. Hope that makes sense!

Thanks.