Disclosure of interest
8 Disclosure of interest
A member of the Board who has a direct or indirect personal or pecuniary interest in a matter decided or under consideration by the
Board—
must disclose the nature of the interest to the Board;
and
must not take part in any deliberations or decisions of the Board on the matter. Maximum penalty: $10 000.
A member of the Board will not be taken to have a direct or indirect interest in a matter for the purposes of this section by reason only of the fact that the member has an interest in a matter that is shared in common with those engaged in or associated with the construction industry generally, or a substantial section of those engaged in or associated with the construction industry.
It is a defence to a charge of an offence against subsection (1) to prove that the defendant was not, at the time of the alleged offence, aware of their interest in the matter.
A disclosure under this section must be recorded in the minutes of the Board.
If a member makes a disclosure of interest in respect of a contract or proposed contract—
the contract is not liable to be avoided by the Board on the ground of the fiduciary relationship between the member and the Board;
and
the member is not liable to account to the Board for profits derived from the contract.
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