Disclosure of conflict of interest
91X Disclosure of conflict of interest
If—
a member has a direct or indirect pecuniary or other interest in a matter being considered or about to be considered at a meeting of the 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 practicable after the relevant facts have come to the member’s knowledge, disclose the nature of the interest at a meeting of the board.
Particulars of a disclosure made under this section must be recorded by the board in a register of interests kept for the purpose.
After a member has disclosed the nature of an interest in a matter, the member must not be present during a deliberation of the board about the matter, unless the board otherwise decides.
For the making of a decision by the board under subsection (3), a member who has a direct or indirect pecuniary or other interest in a matter to which the disclosure relates must not—
be present during the deliberation of the board for the purpose of making the decision; or
take part in the making of the decision by the board.
A contravention of this section does not invalidate a decision of the board.
However, if the board becomes aware a member contravened this section, the board must reconsider a decision made by the board in which the member took part in contravention of this section.
This Act’s bill:Explanatory memorandum
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