| Commentary

49.1 Proposed transactions or arrangements

| Commentary

49 Duty to declare interest in transactions or arrangements

49.1 Proposed transactions or arrangements

If a company director is in any way, directly or indirectly, interested in a proposed transaction or arrangement with the company, he must declare the nature and extent of that interest to the other directors before the company enters into that transaction or arrangement1. The object of this requirement is to ensure that the company’s directors are aware of the director’s interest to enable them to ensure that any requirement of the company’s constitution relating to such an interest is observed2. The director may, but need not,

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