Conflicts of interest
11B Conflicts of interest
If—
a member has a direct or indirect pecuniary interest in a matter being considered or about to be considered by the Trust; and
the interest could conflict with the proper performance of the member's duties in relation to the consideration of the matter—
the member, as soon as practicable after becoming aware of the relevant facts, must declare the nature of the interest to the Trust or, in the case of a proposed resolution notice of which is given under section 11A(1)(a), to the President.
The Trust or the President must cause the declaration to be tabled at the next meeting of the Trust and the person presiding at that meeting must cause the declaration to be recorded in the minutes of the meeting.
A member who has a conflict of interest in a matter—
must not be present during any deliberations on the matter, unless the Trust directs otherwise; and
is not entitled to vote on the matter.
If a member votes on a matter in contravention of subsection (3)(b), the vote must be disallowed.
A member who has a conflict of interest in a matter must not be present during any deliberations leading to a direction, or take part in making a direction, under subsection (3)(a).
S. 12 amended by Nos 29/1994 s. 20, 34/2000 s. 12.
This Act’s bill:Second reading speech
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