Versions

 

214. Directors’ Service Contracts

(1) For the purposes of this Part a director’s “service contract”, in relation to a company, means a contract under which–
(a) a director of the company undertakes personally to perform services (as director or otherwise) for the company, or for a subsidiary of the company, or
(b) services (as director or otherwise) that a director of the company undertakes personally to perform are made available by a third party to the company, or to a subsidiary of the company.
(2) The provisions of this Part relating to directors’ service contracts apply to the terms of a person’s appointment as a director of a company.
They are not restricted to contracts for the performance of services outside the scope of the ordinary duties of a director.
(3) The provisions of Chapter 5 shall not apply to a restricted scope company.