| Commentary

41 Regulation of conflicts of interest

| Commentary

41 Regulation of conflicts of interest

A director must declare any interests in transactions or arrangements with the company in accordance with the Act unless an exception applies1. The board of directors can authorise most conflicts of interest arising from third party dealings by the director (for example, the personal exploitation of corporate resources and opportunities)2. A private company may take advantage of this procedure unless its articles exclude or restrict this right; public companies will need to make specific provision in their constitutions to allow them to do so. Authorisation by the board is only

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