Directors' Conflicts of Interest: A Companies Act 2006 Update - Have you made your declarations yet?

Have you made your declarations yet?

As you will be aware, an Investor Director may be caught by the new rules introduced by the Companies Act 2006 recently by virtue of his/her relationship to the Investor (ie, as an employee or executive) as well as possibly being a director of a portfolio company that competes with the company for which he/she is a director.  Accordingly, venture capital organisations and investment managers are advised to review their directorships with portfolio companies and assess what declarations need to be made to the boards of these companies.

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Lawyers David Mardle