Sch 7 para 18B
(1) The duties that a director of a public benefit corporation has by virtue of being a director include in particular— (a) a duty to avoid a situation in which the director has (or can have) a direct or indirect interest that conflicts (or possibly may conflict) with the interests of the corporation; (b) a duty not to accept a benefit from a third party by reason of being a director or doing (or not doing) anything in that capacity. (2) The duty referred to in sub-paragraph (1)(a) is not infringed if— (a) the situation cannot reasonably be regarded as likely to give rise to a conflict of interest, or (b) the matter has been authorised in accordance with the constitution. (3) The duty referred to in sub-paragraph (1)(b) is not infringed if acceptance of the benefit cannot reasonably be regarded as likely to give rise to a conflict of interest. (4) In sub-paragraph (1)(b), “ third party ” means a person other than— (a) the corporation, or (b) a person acting on its behalf.