69LDisclosure of pecuniary interests

69L Disclosure of pecuniary interests

69L Disclosure of pecuniary interests

(1) A member must disclose the nature of a pecuniary interest at a meeting of the Board as soon as possible after the relevant facts have come to the member’s knowledge.

(2) A member has a pecuniary interest if—

(a) the member has a direct or indirect pecuniary interest in a matter being considered, or about to be considered, at a meeting of the Board, and

(b) the interest appears to raise a conflict with the proper performance of the member’s duties in relation to the consideration of the matter.

(3) A disclosure is a sufficient disclosure of the nature of an interest in a matter relating to a company or other body, or to a person, that may arise after the date of the disclosure under subclause (1) if the disclosure is that the member—

(a) is a member, or is in the employment, of a specified company or other body, or

(b) is a partner, or is in the employment of, a specified person, or

(c) has some other specified interest relating to a specified company or other body, or to a specified person.

(4) Particulars of a disclosure made under this clause must be recorded by the Board in a book that is—

(a) kept for the purpose of recording disclosures, and

(b) open to inspection at all reasonable hours by a person on payment of the fee determined by the Board.

(5) After a member has disclosed the nature of an interest in a matter, the member must not, unless the Minister or the Board otherwise determines—

(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.

(6) For the purposes of making a determination by the Board under subclause (5), a member who has a direct or indirect pecuniary interest in a matter to which the disclosure relates must not—

(a) be present during a deliberation of the Board for the purpose of making the determination, or

(b) take part in the making of the determination by the Board.