Disclosure of pecuniary interests by members
14 Disclosure of pecuniary interests by members
If—
a member of the Advisory Board has a direct or indirect pecuniary interest in a matter being considered or about to be considered at a meeting of the Advisory Board, and
the interest appears to raise a conflict with the proper performance of the member’s duties in relation to the consideration of the matter,
the member must, as soon as possible after the relevant facts have come to the member’s knowledge, disclose the nature of the interest at a meeting of the Advisory Board.
A disclosure by a member at a meeting of the Advisory Board that the member—
is a member, or is in the employment, of a specified company or other body, or
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 to a specified person,
is a sufficient disclosure of the nature of the interest in any matter relating to that company or other body or to that person that may arise after the date of the disclosure and that is required to be disclosed under subsection (1).
Particulars of any disclosure made under this section must be recorded by the Advisory Board in a book kept for the purpose and that book must be open at all reasonable hours to inspection by any person on payment of the fee determined by the Advisory Board.
After a member has disclosed the nature of an interest in any matter, the member must not, unless the Minister or the Advisory Board otherwise determines—
be present during any deliberation of the Advisory Board with respect to the matter, or
take part in any decision of the Advisory Board with respect to the matter.
For the purposes of the making of a determination by the Advisory Board under subsection (4), a member who has a direct or indirect pecuniary interest in a matter to which the disclosure relates must not—
be present during any deliberation of the Advisory Board for the purpose of making the determination, or
take part in the making by the Advisory Board of the determination.
A contravention of this section does not invalidate any decision of the Advisory Board.
This Act’s bill:Explanatory memorandumSecond reading speech
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