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Practitioner Alert : Conflicts and Declarations

Practitioner Alert : Conflicts and Declarations 2025

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The document outlines the new provisions under the Companies Act 2006 regarding conflicts and declarations of interest for directors, effective from October 1, 2008. It establishes a positive duty for directors to avoid unauthorized conflicts of interest, mandates the declaration of interests in transactions with the company, and specifies conditions under which authorizations can be granted. The document also highlights transitional provisions for existing situations and emphasizes the need for companies to review and manage potential conflicts effectively.

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