Disclosure of pecuniary interests
21 Disclosure of pecuniary interests
A board member or a member of a committee who has a direct or indirect pecuniary interest in a matter being considered or about to be considered by that board or that committee must, as soon as possible after the relevant facts have come to his or her knowledge, disclose the nature of his or her interest at a meeting of the board or the committee, as the case requires.
A disclosure under subsection (1) is to be recorded in the minutes of the meeting of the board or the committee concerned and, unless the board or that committee otherwise determines, the board member or member of the committee must not —
be present during any deliberation; or
take part in any decision,
of the board or that committee with respect to the matter to which the disclosure relates.
For the purpose of the making of a determination by a board or a committee under subsection (2) in relation to a member of the board or committee who has made a disclosure under subsection (1), that member must not —
be present during any deliberation of the board or committee for the purpose of making the determination; or
take part in the making of the determination by the board or committee.
A board member or member of a committee who contravenes or fails to comply with a provision of this section commits an offence.
Penalty: $5 000.
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