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of <h1>Clause 184: Directors Must Disclose Interests in Entities Annually; Non-Disclosure Risks Voidable Contracts and Penalties.</h1> Clause 184 of the Companies Bill, 2011 mandates directors to disclose their interests in any company, body corporate, firm, or association at the first board meeting they attend and annually thereafter. Directors must also disclose any interest in contracts involving entities where they hold more than 2% shareholding or hold significant positions. Directors cannot participate in meetings discussing such contracts. Failure to disclose can render contracts voidable by the company and may result in penalties, including fines or imprisonment. The provision does not affect existing legal restrictions on directors' interests in company contracts and excludes contracts between companies with minimal shared directorship.
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