11Interests and positions in corporations

11 Interests and positions in corporations

11 Interests and positions in corporations

(1) A Member must disclose the following—

(a) the name and address of each corporation in which the Member has an interest or holds a position, whether remunerated or not,

(b) the nature of the interest, or a description of the position held, in each named corporation,

(c) except for a listed corporation—a description of the principal objects of each named corporation.

(2) An interest, or position held, in a corporation is not required to be disclosed by a Member if the corporation is—

(a) formed to provide recreation or amusement, to promote commerce, industry, art, science, religion or charity or for another community purpose, and

(b) required to apply its profits, if any, or other income in promoting its objects, and

(c) prohibited from paying dividends to its members.

(3) A Member is not required to disclose a matter the Member would otherwise be required to disclose under this section if the Member has already made a disclosure about the matter when making a disclosure for section 14.