ACT 125
COMPANIES ACT 1965 (REVISED - 1973)
PART V - MANAGEMENT AND ADMINISTRATION
DIVISION 2 - DIRECTORS AND OFFICERS

 
Section 122A. Persons connected with a director.
 
Section 122A. Persons connected with a director. (COMPANIES ACT 1965 (REVISED - 1973) - ACT 125) (1) For the purposes of this Division a person shall be deemed to be connected with a director if he is—

    (a) a member of that director's family; or

    (b) a body corporate which is associated with that director;

    (c) a trustee of a trust (other than a trustee for an employee share scheme or pension scheme) under which that director or a member of his family is a beneficiary; or

    (d) a partner of that director or a partner of a person connected with that director.

(2) In paragraph (1)(a), "a member of that directors's family" shall include his spouse, parent, child (including adopted child and stepchild), brother, sister and the spouse of his child, brother or sister.

(3) For the purposes of paragraph (1)(b), a body corporate is associated with a director if—

    (a) the body corporate is accustomed or is under an obligation, whether formal or informal, or its directors are accustomed, to act in accordance with the directions, instructions or wishes of that director;

    (b) that director has a controlling interest in the body corporate; or

    (c) that director or persons connected with him, or that director and persons connected with him, are entitled to exercise, or control the exercise of, not less than fifteen per centum of the votes attached to voting shares in the body corporate.