8.8 Disclosure of director’s interest in contracts

8.8 DISCLOSURE OF DIRECTOR’S INTEREST IN CONTRACTS

The disclosure of a director’s interest in contracts refers to the requirement for directors to disclose any personal or financial interests they may have in a contract or proposed contract entered into by the company.

Here are some key points to consider regarding the disclosure of director’s interests in contracts:

1. Legal requirement:
2. Duty of fidelity and loyalty
3. Types of interests
4. Timing of disclosure
5. Content of disclosure
6. Board review and decision
7. Record-keeping
8. Disclosure in financial statements