Obligation to disclose interest on becoming aware of conflict of interest
23 Obligation to disclose interest on becoming aware of conflict of interest
In this section:
Board includes a committee.
member includes a member of a committee.
Despite section 22, if a member becomes aware that he or she has or may have a direct or indirect pecuniary interest in:
a matter being considered or about to be considered by the Board;
or
a thing being done or about to be done by the Board,
the member must as soon as possible disclose the nature of the interest or possible interest at a meeting of the Board.
Subject to a resolution of the Board to the contrary, a member who discloses a pecuniary interest in a matter or thing in accordance with subsection (2):
may be present during deliberations by the Board but must not take part in the making of the decisions of the Board in relation to that matter or thing; and
must not perform a function under this Act in relation to that matter or thing.
The resolution of the Board to the contrary is to be deliberated and voted on in the absence of the member.
This Act’s bill:Second reading speech
The statute text is free to read above. View subscription options to unlock the case-law research tools for each provision.