45Pecuniary interests of members of the Governing Board

45 Pecuniary interests of members of the Governing Board

(1) A member of the Governing Board who has a pecuniary interest in a matter being considered or to be considered by the Governing Board, as soon as practicable after the relevant facts have come to the member's knowledge, must disclose the nature of that interest at a meeting of the Governing Board.

(2) If the chairperson has a pecuniary interest in a matter being considered or to be considered by the Governing Board, the chairperson, as soon as practicable after the relevant facts come to the chairperson's knowledge, must disclose the nature of that interest to the Minister.

(3) The person presiding at a meeting at which a disclosure is made under this section must cause a record of the disclosure to be made in the minutes of the meeting.

(4) Subject to subsection (5), a member of the Governing Board who has made a disclosure under subsection (1) or (2) must not be present during any deliberation with respect to, or in the case of an appointed member vote on, the matter in respect of which the disclosure is made.

(5) Subsection (4) does not apply if a member has made a disclosure to the Governing Board and the Governing Board resolves that the member may be present during any deliberation with respect to, or in the case of an appointed member vote on, the matter in respect of which the disclosure is made.