Cap. 168 Art. 126Director may not compete with company.

(1) A director may not, in competition with the company and without the approval of the company given at a general meeting, carry on business on his own account or on account of others or be a partner with unlimited liability in another partnership.

(2) Where a director acts in violation of the prohibition contained in this article, the company may, at its option, either take action for damages and interest against him or demand payment of any profits made by him in contravention of this article.