33Disclosure of interest of director

33 Disclosure of interest of director

(1) A director who has a direct or indirect pecuniary interest in a contract or other matter being dealt with by the Board must disclose the nature of that interest at a meeting of the Board as soon as possible after becoming aware of the interest.

(2) A director who holds an office or possesses property as a result of which, directly or indirectly, duties or interests may be created in conflict with the director's duties as a director, must disclose that fact at a meeting of the Board as soon as possible after becoming aware of the potential conflict.

(3) The person presiding at a meeting at which a disclosure under this section is made must cause that disclosure to be recorded in the minutes of the meeting.

(4) A person who has made a disclosure under this section must not take any further part in the discussion of or vote on the contract or other matter to which the disclosure relates.

(5) If a director votes on a matter in contravention of subsection (4), the director's vote must be disallowed.

S. 34 substituted by No. 9/2022 s. 16.