General Notice of Director’s Interests (s.185)
A conflict of interest is any situation in which a director’s business or personal interests (or those of a person “connected to” a director), or loyalty that they owe to another organisation, business or person, may (or may appear to) influence or affect the director’s decision making. As such the Companies Act 2006 places a requirement on directors to declare their interests. One way of declaring such interests is by general notice in accordance with section 185 of the Companies Act 2006.
This general notice template is notice that the director has a relevant interest or is connected to someone who has such an interest. This notice must be given to the other directors and must be given either at a meeting of the directors or must be brought up and read at the next meeting of directors after it is given. If the company then enters into a contract with a company, firm or other person named in the general notice, the director in question does not then need to declare a further interest (as required by sections 177 and 182 of the Companies Act 2006).
This template has been updated to make it more comprehensive in light of the Government’s focus on corporate transparency and private limited companies. Reference has also been made to our Conflicts of Interests Policy.
This notice is in open format. Fields should be completed where indicated. Wording in square brackets is optional and can be deleted or retained according to requirements.
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