Section 231. Directors’ service contracts

(1) For the purposes of this Division, a director’s “service contract” in relation to a public company means a contract under which—

(a) a director of the company undertakes personally to perform services, as a director or otherwise for the public company or for a subsidiary of the public company; or

(b) services that a director of the public company undertakes personally to perform as director or otherwise are made available by a third party to the public company, or to a subsidiary of the public company.

(2) The provisions of this Division relating to directors’ service contracts shall—

(a) be applicable to the terms of a person’s appointment as a director of a public company; or

(b) not be restricted to contracts for the performance of services outside the scope of the ordinary duties of a director.