Companies Act (Cap. 386), article 143

143. (1) A director of a company may not, in competition with the company and without the approval of the same company given at a general meeting, carry on business on his own account or on account of others, nor may he be a partner with unlimited liability in another partnership or a director of a company which is in competition with that company. (2) Where a director acts in violation of the prohibition contained in this article, the company may, at its option, either take action for damages and interest against him or demand payment of any profits made by him in contravention of this article. (3) The provisions of this article shall be without prejudice to any other remedy which a company may have against a director for breach of duty. Prohibition of loans, etc. to directors.