Barrister AI
All legislation
QLDAct
In force
This is the latest official compilation.Check the official source →
s 716

Officers with material personal interests

In force
Chapter 12Industrial organisations and associated entities
Part 9Officers
Division 3Officers’ duties

716 Officers with material personal interests

(1)

This section applies if the officer has a material personal interest in a matter involving the organisation’s financial management or procurement activities.

(2)

The officer must, by written notice (a disclosure notice), disclose the nature of the interest to the organisation’s management committee as soon as practicable after the relevant facts come to the officer’s knowledge.Maximum penalty—3,091 penalty units or 5 years imprisonment.

(3)

If the matter is to be considered at a meeting of the organisation or a committee of the organisation at which the officer is present, the officer must not—

(a)

vote on the matter; or

(b)

remain at the meeting when the matter is being considered or voted on.

Maximum penalty—3,091 penalty units or 5 years imprisonment.

(4)

In this section—

procurement activities means activities relating to—

(a)

the purchase of goods and services; or

(b)

the carrying out of work.

services includes auditing services and legal services.

Research tools for this sectionPro

The statute text is free to read above. View Pro plans to unlock the case-law research tools for each provision.