Disclosure of pecuniary interests
8 Disclosure of pecuniary interests
A member of the Panel who has a direct or indirect pecuniary interest—
in a matter that is being considered, or is about to be considered, at a meeting of the Panel, or
in a thing being done or about to be done by the Panel,
shall, as soon as practicable after the relevant facts have come to the member’s knowledge, disclose the nature of the interest at a meeting of the Panel.
A disclosure by a member of the Panel at a meeting of the Panel that the member—
is a member, or is in the employment, of a specified company or other body,
is a partner, or is in the employment, of a specified person, or
has some other specified interest relating to a specified company or other body or a specified person,
shall be deemed to be a sufficient disclosure of the nature of the interest in any matter or thing relating to that company or other body or to that person which may arise after the date of the disclosure.
The Panel shall cause particulars of any disclosure made under subclause (1) or (2) to be recorded in a book kept for the purpose and that book shall be open at all reasonable hours to the inspection of any person.
After a member of the Panel has, or is deemed to have, disclosed the nature of an interest in any matter or thing pursuant to subclause (1) or (2), the member shall not, unless the Minister otherwise determines—
be present during any deliberation of the Panel, or take part in any decision of the Panel, with respect to that matter, or
exercise any functions under this Act with respect to that thing,
as the case requires.
Notwithstanding that a member of the Panel contravenes the provisions of this clause, that contravention does not invalidate any decision of the Panel or the exercise of any function under this Act.
Nothing in this clause applies to or in respect of an interest of a member of the Panel in a matter or thing which arises by reason only that the member—
is associated with an accredited research establishment, or
is entitled to a share of any profits of an accredited research establishment,
other than a research establishment which is, or which belongs to a class of research establishments which are, the subject of that matter or thing.
A reference in this clause to a meeting of the Panel includes a reference to a meeting of a committee of the Panel.
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