30Disclosure of interests

30 Disclosure of interests

Scope (1) This section applies if a member of the Regional Investment Corporation Board has a material personal interest that relates to the advisory affairs of the Regional Investment Corporation Board.

Note: For advisory affairs of the Regional Investment Corporation Board, see section 5.

Requirement to disclose interest (2) As soon as practicable after the member becomes aware of the interest, the member must disclose details of the interest: (a) at a meeting of the Regional Investment Corporation Board; and (b) to the Drought Minister. (3) The disclosure under subsection (2) must include details of: (a) the nature and extent of the interest; and (b) how the interest relates to the advisory affairs of the Regional Investment Corporation Board. (4) A disclosure covered by paragraph (2)(a) must be recorded in the minutes of the meeting. Consequences of disclosure (5) If: (a) the member has made a disclosure under subsection (2); and (b) a matter in which the member has disclosed the interest is being considered at a meeting of the Regional Investment Corporation Board; the member must not: (c) be present while the matter is being considered at the meeting; or (d) vote on the matter. Termination of appointment (6) The Drought Minister may terminate the appointment of a member of the Regional Investment Corporation Board if the member fails, without reasonable excuse, to comply with subsection (2) or (5). (7) Subsection (6) does not limit section 26 of the Regional Investment Corporation Act 2018. Effect of subsections (2), (3), (4) and (5) (8) Subsections (2), (3), (4) and (5) have effect despite anything in: (a) subsection 29(1) of the Public Governance, Performance and Accountability Act 2013; or (b) rules made for the purposes of subsection 29(2) of that Act.