87Disclosure of material personal interest by members of trust board—civil obligations

#### 87 Disclosure of material personal interest by members of trust board—civil obligations 87 Disclosure of material personal interest by members of trust board—civil obligations > > (1) If— > > > > > (a) a member of a trust board has a direct or indirect material personal interest in a matter being considered or about to be considered at a meeting of the trust board, and > > > > > (b) the interest appears to raise a conflict with the proper performance of the member’s duties in relation to the consideration of the matter, > > > > the member must, as soon as possible after the relevant facts have come to the member’s knowledge, disclose the nature of the interest at a meeting of the trust board. > > > > Maximum civil penalty: $5,500. > > > (2) A disclosure by a member of a trust board at a meeting of the trust board that the member— > > > > > (a) is a member, or is in the employment, of a specified company or other body, or > > > > > (b) is a partner, or is in the employment, of a specified person, or > > > > > (c) has some other specified interest relating to a specified company or other body or to a specified person, > > > > is a sufficient disclosure of the nature of the interest in any matter relating to that company or other body or to that person which may arise after the date of the disclosure and which is required to be disclosed under this section. > > > (3) Particulars of any disclosure made under this section must be recorded by the trust board in a book kept for the purpose and that book must be open at all reasonable hours to inspection by any person. > > > (4) After a member of a trust board has disclosed the nature of an interest in any matter, the member must not, unless the Minister or the trust board otherwise determines— > > > > > (a) be present during any deliberation of the trust board with respect to the matter, or > > > > > (b) take part in any decision of the trust board with respect to the matter. > > > > Maximum civil penalty: $5,500. > > > (5) For the purposes of the making of a determination by the trust board under subsection (4), a member who has a direct or indirect material personal interest in a matter to which the disclosure relates must not— > > > > > (a) be present during any deliberation of the trust board for the purpose of making the determination, or > > > > > (b) take part in the making by the trust board of the determination. > > > (6) A contravention of this section does not invalidate any decision of the trust board.