Section 214 of the Companies Act 2016
“Business judgment” means any decision on whether or not to take action in respect of a matter relevant to the business of the Company.
In this respect, a director who makes a business judgment is deemed to meet the requirements of his/her duty under Section 213 and the equivalent duties under the common law and in equity if the director:
a. Makes the business judgment for a proper purpose and in good faith;
b. Does not have a material personal interest in the subject matter of the business judgment;
c. Is informed about the subject matter of the business judgment to the extent the director reasonably believes to be appropriate under the circumstances; and
d. Reasonably believes that the business judgment is in the best interest of the Company.