Financial Intermediaries Act 1996
sec.110Recording and effect of declaration
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sec.110 Recording and effect of declaration
This section applies to a declaration under section 108 or 109 . The declaration must be recorded in the minutes of the meeting at which it was made and, unless the board otherwise determines, the director must not— be present during a deliberation of the board about the matter; or take part in a decision of the board about the matter. For making a determination of the board under subsection (2) about a director who has made a declaration, the director must not— be present during a deliberation of the board making the determination; or take part in the making by the board of the determination. (sec.110-ssec.1) This section applies to a declaration under section 108 or 109 . (sec.110-ssec.2) The declaration must be recorded in the minutes of the meeting at which it was made and, unless the board otherwise determines, the director must not— be present during a deliberation of the board about the matter; or take part in a decision of the board about the matter. (sec.110-ssec.3) For making a determination of the board under subsection (2) about a director who has made a declaration, the director must not— be present during a deliberation of the board making the determination; or take part in the making by the board of the determination.
- (a) be present during a deliberation of the board about the matter; or
- (b) take part in a decision of the board about the matter.
- (a) be present during a deliberation of the board making the determination; or
- (b) take part in the making by the board of the determination.