sec.40HVoting by interested foundation committee member

### sec.40H Voting by interested foundation committee member A foundation committee member who has a material personal interest in a matter being considered by the foundation committee must not— vote on the matter; or vote on a proposed resolution under subsection (2) (a  related resolution ) in relation to the matter (whether in relation to the foundation committee member or another foundation committee member); or be present while the matter, or a related resolution, is being considered by the foundation committee; or otherwise take part in any decision of the foundation committee in relation to the matter or a related resolution. Maximum penalty—100 penalty units. Subsection (1) does not apply to the matter if the foundation committee has at any time passed a resolution that— specifies the foundation committee member, the interest and the matter; and states that the foundation committee members voting on the resolution are satisfied that the interest should not disqualify the foundation committee member from considering or voting on the matter. If, because of this section, a foundation committee member is not present at a meeting of the foundation committee for considering or deciding a matter, but there would be a quorum if the foundation committee member were present, the remaining foundation committee members present are a quorum for considering or deciding the matter at the meeting. s 40H ins 2012 No. 24 s 7 (sec.40H-ssec.1) A foundation committee member who has a material personal interest in a matter being considered by the foundation committee must not— vote on the matter; or vote on a proposed resolution under subsection (2) (a  related resolution ) in relation to the matter (whether in relation to the foundation committee member or another foundation committee member); or be present while the matter, or a related resolution, is being considered by the foundation committee; or otherwise take part in any decision of the foundation committee in relation to the matter or a related resolution. Maximum penalty—100 penalty units. (sec.40H-ssec.2) Subsection (1) does not apply to the matter if the foundation committee has at any time passed a resolution that— specifies the foundation committee member, the interest and the matter; and states that the foundation committee members voting on the resolution are satisfied that the interest should not disqualify the foundation committee member from considering or voting on the matter. (sec.40H-ssec.3) If, because of this section, a foundation committee member is not present at a meeting of the foundation committee for considering or deciding a matter, but there would be a quorum if the foundation committee member were present, the remaining foundation committee members present are a quorum for considering or deciding the matter at the meeting. - (a) vote on the matter; or - (b) vote on a proposed resolution under subsection (2) (a  related resolution ) in relation to the matter (whether in relation to the foundation committee member or another foundation committee member); or - (c) be present while the matter, or a related resolution, is being considered by the foundation committee; or - (d) otherwise take part in any decision of the foundation committee in relation to the matter or a related resolution. - (a) specifies the foundation committee member, the interest and the matter; and - (b) states that the foundation committee members voting on the resolution are satisfied that the interest should not disqualify the foundation committee member from considering or voting on the matter.