Related party transactions
What are the duties of an interested director in relation to the related party transaction under this Chapter?
Pursuant to paragraphs 10.08(6) to (8) of the Main LR, an interested director is imposed with an obligation to ensure that the board of directors is notified of the nature and extent of his interests. He must also abstain from board deliberation and voting on the relevant resolution in respect of the transaction. In addition, he must also ensure that persons connected with him also abstain from voting on the relevant resolution in respect of the transaction.