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Toma and Teddy are directors of Top Tours Pty Ltd (Top Tours), a travel company. Toma has discovered that Teddy received a payment of $30,000

Toma and Teddy are directors of Top Tours Pty Ltd (Top Tours), a travel company. Toma has discovered that Teddy received a payment of $30,000 for convincing clients of Top Tours to purchase travel insurance through Fly Away Insurance Brokers (Fly Away).

Toma made this discovery by accident as her cousin Glenda works for Fly Away.

Teddy did not disclose the payment to the directors or shareholders of Top Tours.

Please explain with relevant case law

Required: Explain Teddy's legal position in relation to the $30,000 payment.

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