 The duty of directors to avoid any "possibility" of a conflict of interest also exists after a director ceases employment with a company, so it is not permissible to resign and then take up a corporate opportunity, present or maturing, even though no longer officially a "director".The purpose of the no conflict rule is to ensure directors carry out their tasks as if their own interest were at stake.Beyond corporate opportunities, the law requires directors accept no benefits from third parties under section 176, and also has specific regulation of transactions by a company with another party in which directors have an interest.