Disclosure of personal interest
25 Disclosure of personal interest
This section applies if a board member has a personal interest in a matter being considered or about to be considered by the
Advisory Board.
The board member must disclose the following at a meeting of the
Advisory Board as soon as practicable after the relevant facts come to the board member's knowledge:
the nature and extent of the personal interest;
how the interest relates to the matter mentioned in subsection (1).
The disclosure must be recorded in the minutes of the meeting.
For this section, a board member has a personal interest in a matter if the board member:
has a direct or indirect financial interest in the matter otherwise than as a member of, and in common with the other members of, an incorporated company consisting of not less than 25 persons and of which the board member is not a director; or
has a personal, professional, commercial or other relationship with a person and the nature of the relationship is likely to, or may reasonably be regarded as likely to, inhibit or prevent the board member from exercising independent judgment about the matter.
The statute text is free to read above. View Pro plans to unlock the case-law research tools for each provision.