Section 176

A director of a company must not accept a benefit from a third party conferred by reason of— his being a director, or his doing (or not doing) anything as director. A “third party” means a person other than the company, an associated body corporate or a person acting on behalf of the company or an associated body corporate. Benefits received by a director from a person by whom his services (as a director or otherwise) are provided to the company are not regarded as conferred by a third party. This duty is not infringed if the acceptance of the benefit cannot reasonably be regarded as likely to give rise to a conflict of interest. Any reference in this section to a conflict of interest includes a conflict of interest and duty and a conflict of duties.

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Source: legislation.gov.uk · retrieved 2026-09-04