sec.104Disclosure of interests

### sec.104 Disclosure of interests If there is a reasonable possibility that a member’s participation in a board committee’s consideration of an issue will give the member, or an entity associated with the member, a professional or commercial advantage, or will otherwise be a conflict of interest, the member must disclose the possibility to the board committee. The disclosure must be recorded in the board committee’s minutes and, unless the board committee otherwise directs, the member must not— be present when the board committee considers the issue; or take part in a decision of the board committee on the issue. If, because of subsection (2) , the member is not present for the board committee’s consideration of the issue, but there would be a quorum if the member were present, the remaining members present are a quorum for the board committee’s consideration of the issue. For subsection (1) , an entity is associated with a member if the member is an employee or member of, or an adviser to, the entity. (sec.104-ssec.1) If there is a reasonable possibility that a member’s participation in a board committee’s consideration of an issue will give the member, or an entity associated with the member, a professional or commercial advantage, or will otherwise be a conflict of interest, the member must disclose the possibility to the board committee. (sec.104-ssec.2) The disclosure must be recorded in the board committee’s minutes and, unless the board committee otherwise directs, the member must not— be present when the board committee considers the issue; or take part in a decision of the board committee on the issue. (sec.104-ssec.3) If, because of subsection (2) , the member is not present for the board committee’s consideration of the issue, but there would be a quorum if the member were present, the remaining members present are a quorum for the board committee’s consideration of the issue. (sec.104-ssec.4) For subsection (1) , an entity is associated with a member if the member is an employee or member of, or an adviser to, the entity. - (a) be present when the board committee considers the issue; or - (b) take part in a decision of the board committee on the issue.