GAM Statistics Limited is a company registered in Malta, which has as its sole director Matthew. The company is engaged in the development of software for the i-gaming industry and is doing extremely well. Matthew meets up with James, also a software developer who has recently won a tender. James encourages Matthew to leave GAM Statistics and set up a company together.Required:

(b) Advise Matthew what action he should take with particular reference to the specific duties of directors not to compete with the company of which he is a director, and, to disclose any interest he may have in a contract with the company. (4 marks)