When member of audit panel has pecuniary interest
55B When member of audit panel has pecuniary interest
A member of an audit panel has an interest in the making of a recommendation or in a review by the audit panel if – were the audit panel to make a particular possible recommendation and that recommendation were to be adopted by the council, the member or a close associate of the member would receive, have an expectation of receiving or be likely to receive or have an expectation of receiving a pecuniary benefit or pecuniary detriment; or were the audit panel to conclude the review in a particular possible manner, the member or a close associate of the member would receive, have an expectation of receiving or be likely to receive or have an expectation of receiving a pecuniary benefit or pecuniary detriment.
For the purposes of subsection (1), the member of the audit panel has an interest in the making of a recommendation or a review from when the first of the following occurs:the member becomes aware that he or she has an interest; the member should reasonably have become aware that he or she has an interest.
Sections 51 and 52 apply as if a reference to a member were a reference to a member of the audit panel.
This Act’s bill:Explanatory notesSecond reading speech
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