Section 145 — Companies Act 1993: Use of company information

145 Use of company information (1) A director of a company who has information in his or her capacity as a director or employee of the company, being information that would not otherwise be available to him or her, must not disclose that information to any person, or make use of or act on the information, except— (a) For the purposes of the company; or (b) As required by law; or (c) In accordance with subsection (2) or subsection (3) of this section; or (d) In complying with section 140 of this Act. (2) A director of a company may, unless prohibited by the board, disclose information 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 and, if the director discloses the information, the name of the person to whom it is disclosed must be entered in the interests register. (3) A director of a company may disclose, make use of, or act on the information if— (a) Particulars of the disclosure, use, or the act in question are entered in the interests register; and (b) The director is first authorised to do so by the board; and (c) The disclosure, use, or act in question will not, or will not be likely to, prejudice the company.