11AConflicts of interest

11A Conflicts of interest (1) Whenever the Authority is to make a decision on a matter at a meeting, each member present at the meeting must, before the matter is considered, declare any direct or indirect pecuniary interest that he or she has in the matter. 1. 5 penalty units. S. 11A(2) amended by No. 41/2014 s. 4(r). (2) The Authority or the chairperson must cause the declaration to be tabled at that meeting or at the next meeting of the Authority and the person presiding at that meeting must cause the declaration to be recorded in the minutes of the meeting. (3) A member who has a conflict of interest in a matter— S. 11A(3)(a) amended by No. 5/2012 (a) must not be present during any deliberations on the matter, unless a declaration of the interest has been made in accordance with this section and the Authority directs otherwise; and (b) is not entitled to vote on the matter. (4) A member who has a conflict of interest in a matter must not be present during any deliberations leading to a direction, or take part in making a direction under subsection (3)(a). (5) If a member votes on a matter in contravention of subsection (3)(b), his or her vote must be disallowed. (6) For the purposes of the section, a member is not to be regarded as having a conflict of interest— (a) in a matter relating to the supply of goods or services to the member if the goods or services are, or are to be, available to members of the public on the same terms and conditions; or (b) in a contract or arrangement only because that contract or arrangement may benefit a company or other body in which the member has a beneficial interest that does not exceed $2000 or 1% of the total nominal value of beneficial interests in the company or body, whichever is the lesser. No. 5040 s. 11.