Disclosure of interests
610 Disclosure of interests
This section applies to a director on a water authority’s board if—
the director has a direct or indirect financial or personal interest in a matter being considered, or about to be considered, by the board; and
the interest could conflict with the proper performance of the director’s duties about the consideration of the matter.
As soon as practicable after the relevant facts come to the director’s knowledge, the director must disclose the nature of the interest to a meeting of the board.Maximum penalty—100 penalty units.
The disclosure must be recorded in the board’s minutes.
Unless the board otherwise decides, the director must not—
be present when the board considers the matter; or
take part in a decision of the board on the matter.
Maximum penalty—100 penalty units.
The director must not be present when the board is considering its decision under subsection (4).Maximum penalty—100 penalty units.
Another director who also has a direct or indirect financial or personal interest in the matter must not—
be present when the board is considering its decision under subsection (4); or
take part in making the decision.
Maximum penalty—100 penalty units.
In this section—financial or personal interest, of a person in a matter, does not include—
the person’s interest in the matter as a customer or ratepayer of the water authority; or
for a person nominated by an entity for appointment as a director, an interest in an agreement with the authority for the supply of water to the entity.
This Act’s bill:Explanatory memorandum
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