17Disclosure of interests

17 Disclosure of interests

(1) The senior member shall give written notice to the Minister of all direct and indirect pecuniary interests that the senior member has, or acquires, in any business carried on in Australia or in any body corporate carrying on any such business. (2) Where the senior member has or acquires an interest, pecuniary or otherwise, that could conflict with the proper performance of the senior member’s functions during a meeting, the interest shall be disclosed in the report resulting from the meeting. (3) Where a member (other than the senior member) has or acquires an interest, pecuniary or otherwise, that could conflict with the proper performance of the member’s functions during a meeting:

(a) that interest shall be disclosed to the senior member;

(b) except with the consent of the senior member, the member shall not take part, or continue to take part, in the meeting; and

(c) if the member takes part, or continues to take part, in the meeting, the interest shall be disclosed in the report resulting from the meeting.

(4) Where the senior member becomes aware that a member (other than the senior member) has, in relation to a matter that is, or is to be, considered at a meeting, an interest of the kind referred to in subsection (3):

(a) if the senior member considers that the member should not take part, or should not continue to take part, in the meeting—the senior member shall give a direction to the member accordingly; or

(b) in any other case—the interest of the member shall be disclosed in the report resulting from the meeting.

(5) In this section, member includes an associate member.