Notice of Director Interest

Section: This information pertains to the Notice of Director Interest.

Purpose: The purpose of this notice is to ensure that directors of a company disclose their interests in any contracts or arrangements that the company is a party to. This is to prevent conflicts of interest and ensure transparency.

Applicability: The notice is applicable to all directors of a company, including executive and non-executive directors.

Timeline: The notice must be submitted as soon as the director becomes aware of their interest in the contract or arrangement. If the interest arises after the contract or arrangement has been entered into, the notice must be submitted as soon as possible.

Exemption: There are no exemptions to this requirement.

Penalty for not doing (specify amount): Failure to submit a Notice of Director Interest can result in penalties and fines for the company and the director. The amount of the penalty varies depending on the severity of the breach, but can range from a warning to a substantial fine.

Due date: The notice must be submitted as soon as possible after the director becomes aware of their interest in the contract or arrangement.

Forms: The notice can be submitted in writing or electronically, and must include the name of the director, details of the contract or arrangement, and the nature of the interest.

Reporting authority: The notice must be submitted to the company secretary or other designated person responsible for receiving such notices.

Other details: It is important for directors to understand their obligations with respect to the disclosure of their interests in contracts or arrangements involving the company. Failure to comply with these requirements can result in serious consequences for both the company and the director.