Section 42: Duties of directors.

(1) Notwithstanding the law establishing the public enterprise, a director of a public enterprise stands in a fiduciary relationship towards the public enterprise and shall observe the utmost good faith towards the public enterprise in any transaction with it or on its behalf.
(2) A director shall -
(a) act at all times in what he believes to be the best interest of the public enterprise as a whole so as to preserve its assets, further its activities, and promote the purposes for which it is established and in such manner as a faithful, diligent, careful and ordinarily skillful director would act in the circumstances; and
(b) in the performance of his duties, consider the interest of the employees of the public enterprise.
(3) A director shall exercise his powers for the purpose for which it is specified and shall not do so for a collateral purpose, and the power, if exercised for that purpose shall not constitute a breach of duty, if it incidentally affects the public enterprise adversely.
(4) A director shall not fetter his discretion to act in a particular way.
(5) Where a director is allowed to delegate his powers under any provision of this Act, the director shall not delegate the power in such a way and manner as may amount to an abdication of duty.
(6) No provision, whether contained in any contract or otherwise, shall relieve any director from the duty to act in accordance with this section or relieve him from any liability incurred as a result of any breach of the duties conferred on him under this section.
(7) A director shall not misuse any information, relating to a public enterprise, that comes to his knowledge in the discharge of his duties as a director of the public enterprise to his own or any other person's advantage.
(8) A director shall be relieved of his duty under subsection (7) of this section by the fact that the director has for any reason whatsoever ceased to be a director of the public enterprise.
(9) A duty imposed on a director under this section shall be enforceable against the director by the public enterprise.