18HWhat constitutes a pecuniary interest?

18H What constitutes a pecuniary interest?

(1) In this section shares includes stock, and share capital must be read accordingly.

(2) A member does not have a pecuniary interest to which section 18G applies in relation to a matter only because that member has an interest in the matter—

(a) as a person who receives a service from the Authority in common with other persons who receive a service from the Authority; or

(b) as a person who is, or may become, entitled to an allowance or other payment under this Act, if the maximum amount of the allowance or payment, or the rate at which the amount is to be calculated, is fixed under this Act; or

(c) as a member of a club or other association (incorporated or not) that is conducted primarily for charitable, benevolent, recreational or community purposes; or

(d) as a member of an employers' or employees' association; or

(e) as a person to whom the Authority offers, or proposes to offer, goods and services which are, or are proposed to be, offered generally by the Authority on the same terms and conditions as to that member; or

(f) as a person who receives a service from the Authority, or as a resident of a region under the control of the Authority, who may be required by the Authority to make any payment that other persons who receive that service, or other residents of the region, may be required by the Authority to make.

(3) Unless subsection (4) provides otherwise, a person has a pecuniary interest in a matter if—

(a) the person or his or her nominee is a member of a company or other body which has a pecuniary interest in the matter; or

(b) the person is the sole proprietor, a partner, a director or an employee of a person who has a pecuniary interest in the matter.

(4) Subsection (3) does not apply—

(a) to membership of any body (incorporated or not) which results from an appointment or nomination made by the board of an Authority; or

(b) to membership or directorship of any body (incorporated or not) if the member or director has no beneficial interest in any capital or income of the body.

(5) If a member of a board of an Authority has a pecuniary interest in a matter only because he or she has a beneficial interest in the shares of a body, and if the total nominal value of those shares is not more than $2000 or 1 per cent of the total nominal value of the issued share capital of the body (whichever is less), section 18G does not preclude the member from taking part in the consideration of the matter.

(6) If the share capital of a body is of more than one class, subsection (5) does not apply if the total nominal value of all the shares of any one class in which the member has a beneficial interest is more than 1 per cent of the total nominal value of the issued share capital of that class of the body.