Officer may give members of committee of management standing notice about an interest
293D Officer may give members of committee of management standing notice about an interest
Power to give notice
An officer of an organisation who has an interest in a matter may give to the members of the committee of management of the organisation standing notice of the nature and extent of the interest in the matter in accordance with subsection (2). The notice may be given at any time and whether or not the matter relates to the affairs of the organisation at the time the notice is given.
The standing notice may be given to the members of the committee of management before the interest becomes a material personal interest.
The standing notice must:
give details of the nature and extent of the interest; and
be given:
at a meeting of the committee of management (either orally or in writing); or
to the members of the committee of management individually in writing.
The standing notice is given under subparagraph (b)(ii) when it has been given to every member of the committee of management.
Standing notice must be tabled at meeting if given to members of the committee of management individually
If the standing notice is given to the members of the committee of management individually in writing, it must be tabled at the next meeting of the committee of management after it is given.
Nature and extent of interest must be recorded in minutes
The committee of management must ensure that the nature and extent of the interest disclosed in the standing notice is recorded in the minutes of the meeting of the committee of management at which the standing notice is given or tabled.
Dates of effect and expiry of standing notice
The standing notice:
takes effect as soon as it is given; and
ceases to have effect if a person who was not a member of the committee of management at the time when the notice was given is appointed as a member of the committee of management.
A standing notice that ceases to have effect under paragraph (b) commences to have effect again if it is given to the person referred to in that paragraph.
Effect of material increase in nature or extent of interest
The standing notice ceases to have effect in relation to a particular interest if the nature or extent of the interest materially increases above that disclosed in the notice.
Effect of contravention by officer
A contravention of this section by an officer does not affect the validity of any act, transaction, agreement, instrument, resolution or other thing.
This section applies in relation to a branch of an organisation as if references to an organisation were references to a branch of an organisation.
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