Disclosure of pecuniary interests
7 Disclosure of pecuniary interests
A member of a management committee 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 committee, or
in a thing being done or about to be done by the committee,
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 committee.
A disclosure at such a meeting 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 a specified person,
is taken 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 that may arise after the date of the disclosure.
The management committee must cause particulars of any disclosure made under subclause (1) or (2) to be recorded in a book kept for the purpose and that book must be open at all reasonable hours to the inspection, free of charge, of any person.
After a member has, or is deemed to have, disclosed the nature of an interest in any matter or thing under subclause (1) or (2), the member must not, unless the Minister otherwise determines—
be present during any deliberation, or take part in any decision, of the management committee with respect to that matter, or
exercise any functions under this Act with respect to that thing,
as the case requires.
Subclause (4) does not apply to a member whose interest consists merely of the fact that the member is the holder of an access licence or approval.
A contravention of this clause does not invalidate any decision of the management committee or the exercise of any function under this Act.
A reference in this clause to a meeting of a management committee includes a reference to a meeting of any of its committees.
This Act’s bill:Explanatory memorandumSecond reading speech
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