Related party transaction scope revised: removes monetary threshold and applies where director shareholding is minimal. The amendment removes the minimum monetary floor previously found in subsection (4) and substitutes clause (b) of subsection (5) so that the provision applies to contracts or arrangements between two companies, or between one or more companies and one or more bodies corporate, where any director of one party or two or more directors together hold not more than two per cent. of the paid up share capital in the other company or body corporate.