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Companies Act 2006: Duty not to accept benefits from third parties
A trustee director 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 a director.
This is aimed primarily at bribes and secret commissions but employers and trustee companies should check that arrangements for remunerating trustee directors do not breach this duty.
Although payments made by associated companies will not be caught (as they are not third parties), problems could arise where a sponsoring employer remunerates directors of a trustee company which is not part of the same corporate group.