Section 158 — Disclosure of company information by certain directors

(1)A director of a company may disclose information which the director has in his or her capacity as a director or an employee of a company, being information that would not otherwise be available to him or her, to the persons specified in subsection (2) if such disclosure is not likely to prejudice the company and is made with the authorisation of the board of directors.[36/2014]

(2)The information referred to in subsection (1) may be disclosed to —

(a)a person whose interests the director represents; or

(b)a person in accordance with whose directions or instructions the director may be required or is accustomed to act in relation to the director’s powers and duties.

(3)The authorisation mentioned in subsection (1) may be conferred in respect of disclosure of —

(a)all or any class of information; or

(b)only such information as may be specified in the authorisation.[36/2014]