A director's declaration of interests under Section 185 of the Companies Act 2006
Under the UK Companies Act, directors must declare their interests before they assume directorship or as soon as any interest arises. The declaration covers interests in transactions, arrangements, or potential influences that could affect the director's decision-making within the company.
This notice is pivotal in promoting ethical practices and protecting the company from undisclosed conflicts that could jeopardize its operations or reputation. By mandating such disclosures, companies aim to foster an environment of trust and integrity among board members and shareholders.
The Director's Declaration: General Notice of Interests (Section 185) should be used by directors of UK companies. This document is essential for directors to formally declare any personal interests that might conflict with their responsibilities to the company.
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