Common use of Restrictions on the Director Clause in Contracts

Restrictions on the Director. (A) During the Appointment the Director shall not, and shall procure that none of his Affiliates shall, be directly or indirectly, engaged in or concerned with or interested in any business which is in any respect in competition with or similar to the Business provided that this shall not prohibit the holding (directly or through nominees) of investments listed on any stock exchange as long as not more than 5 per cent. of the issued shares or stock of any class of any one company shall be so held save that this restriction shall not apply to any holding of shares or stock of the Company.

Restrictions on the Director. (A) During the Appointment the Director shall not, and shall procure that none of his her Affiliates shall, be directly or indirectly, engaged in or concerned with or interested in any business which is in any respect in competition with or similar to the Business provided that this shall not prohibit the holding (directly or through nominees) of investments listed on any stock exchange as long as not more than 5 per cent. of the issued shares or stock of any class of any one company shall be so held save that this restriction shall not apply to any holding of shares or stock of the Company.