Director disclosure duties require timely declaration of interests and abstention from board participation when contracts involve personal interests. Directors must disclose concerns or interests in companies, bodies corporate, firms or associations at the first board meeting they attend, annually thereafter, and whenever disclosures change; where a director is concerned or interested in a contract or arrangement with the company (by shareholding, promoter/managerial role, or as partner/owner/member of an entity) the director must disclose the nature of the interest when the contract is discussed and abstain from participating, with post facto interests to be disclosed forthwith or at the next board meeting.