176 Duty not to accept benefits from third parties
176 Duty not to accept benefits from third parties
Companies Act 2006 | Legislation

(1)     A director of a company must not accept a benefit from a third party conferred by reason of—

(a)     his being a director, or

(b)     his doing (or not doing) anything as director.

(2)     A “third party” means a person other than the company, an associated body corporate or a person acting on behalf of the company or an associated body corporate.

(3)     Benefits received by a director from a person by whom his services (as a director or otherwise) are provided to the company are not regarded as conferred by a third party.

(4)     This duty is not infringed if the acceptance of the benefit cannot reasonably be regarded as likely to give rise to a conflict of interest.