Companies Act (Cap. 386), article 145

145. (1) It shall be the duty of a director of a company who is in any way, whether directly or indirectly, interested in a con tract or proposed contract with the company to declare the nature of his interest to the other directors either at the meeting of the di rectors at which the question of entering into the contract is first ta ken into consideration, or, if the direct or was not at the date of that meeting interested in the contract or pr oposed contract, at the next me eting of the directors held after he became so interested. (2) Any director who fails to comply with the provisions of this article shall be liable to a penalty. Return as to changes among directors, company secretary and in representation of company. Amended by: XXXI. 2017.80; XVIII.2025.15.