sec.83Disclosure of interests

### sec.83 Disclosure of interests If there is a reasonable possibility that a member’s participation in the board’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. The disclosure must be recorded in the board’s minutes and, unless the board otherwise directs, the member must not— be present when the board considers the issue; or take part in a decision of the board on the issue. If, because of subsection (2) , the member is not present for the board’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’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.83-ssec.1) If there is a reasonable possibility that a member’s participation in the board’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. (sec.83-ssec.2) The disclosure must be recorded in the board’s minutes and, unless the board otherwise directs, the member must not— be present when the board considers the issue; or take part in a decision of the board on the issue. (sec.83-ssec.3) If, because of subsection (2) , the member is not present for the board’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’s consideration of the issue. (sec.83-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 considers the issue; or - (b) take part in a decision of the board on the issue.