Voting by interested member
33 Voting by interested member
A member who has a material personal interest in a matter that is being considered by the board must not—
vote on the matter; or
vote on a proposed resolution under subsection (2) (a related resolution) in relation to the matter (whether in relation to the member or another member); or
be present while the matter, or a related resolution, is being considered by the board; or
otherwise take part in any decision of the board in relation to the matter or a related resolution.
Maximum penalty—100 penalty units.
Subsection (1) does not apply to the matter if the board has at any time passed a resolution that—
specifies the member, the interest and the matter; and
states that the members voting for the resolution are satisfied that the interest should not disqualify the member from considering or voting on the matter.
If, because of this section, a member is not present at a meeting of the board for considering or deciding a matter, but there would be a quorum if the member were present, the remaining members present are a quorum for considering or deciding the matter at the meeting.
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