20Disclosure of interest

20 Disclosure of interest (1) A member of the Board who has or has had a direct or indirect proprietary or other pecuniary interest in a matter being considered or about to be considered by the Board shall, as soon as possible after the relevant facts have come to the member's knowledge, disclose the nature of his or her interest at a meeting of the Board. (2) A disclosure under subsection (1) shall be recorded in the minutes of the Board and the member: (a) shall not, while he or she has that interest, (otherwise than as a member of, and in common with the other members of, an incorporated company consisting of not less than 25 persons and of which he or she is not a director), take part after the disclosure in any deliberation or decision of the Board; and (b) shall be disregarded for the purpose of constituting a quorum of the Board, Pastoral Land Act 1992 11 in relation to the matter.