s 176 Duty not to accept benefits from third parties
(1) A director of a company must not accept a benefit from a third party conferred by reason of— (a) his being a director, or (b) his doing (or not doing) anything as director. (2) A “ third party ” means a person other than the company, an associated body corporate or a person acting on behalf of the company or an associated body corporate. (3) Benefits received by a director from a person by whom his services (as a director or otherwise) are provided to the company are not regarded as conferred by a third party. (4) This duty is not infringed if the acceptance of the benefit cannot reasonably be regarded as likely to give rise to a conflict of interest. (5) Any reference in this section to a conflict of interest includes a conflict of interest and duty and a conflict of duties.