sec.40Disclosure of conflict of interest

### sec.40 Disclosure of conflict of interest If— a member has a direct or indirect pecuniary or other interest in a matter being considered or about to be considered at a meeting of the board; and the interest appears to raise a conflict with the proper performance of the member’s duties in relation to the consideration of the matter; the member must, as soon as possible after the relevant facts have come to the member’s knowledge, disclose the nature of the interest at a meeting of the board. Particulars of any disclosure made under this section must be recorded by the board in a register of interests kept for the purpose. After a member has disclosed the nature of an interest in any matter, the member must not be present during any deliberation of the board about the matter, or take part in any decision of the board about the matter, unless the board otherwise decides. For the making of a decision by the board under subsection (3) , a member who has a direct or indirect pecuniary or other interest in a matter to which the disclosure relates must not— be present during any deliberation of the board for the purpose of making the decision; or take part in the making of the decision by the board. A contravention of this section does not invalidate any decision of the board. However, if the board becomes aware a member contravened this section, the board must reconsider any decision made by the board in which the member took part in contravention of this section. (sec.40-ssec.1) If— a member has a direct or indirect pecuniary or other interest in a matter being considered or about to be considered at a meeting of the board; and the interest appears to raise a conflict with the proper performance of the member’s duties in relation to the consideration of the matter; the member must, as soon as possible after the relevant facts have come to the member’s knowledge, disclose the nature of the interest at a meeting of the board. (sec.40-ssec.2) Particulars of any disclosure made under this section must be recorded by the board in a register of interests kept for the purpose. (sec.40-ssec.3) After a member has disclosed the nature of an interest in any matter, the member must not be present during any deliberation of the board about the matter, or take part in any decision of the board about the matter, unless the board otherwise decides. (sec.40-ssec.4) For the making of a decision by the board under subsection (3) , a member who has a direct or indirect pecuniary or other interest in a matter to which the disclosure relates must not— be present during any deliberation of the board for the purpose of making the decision; or take part in the making of the decision by the board. (sec.40-ssec.5) A contravention of this section does not invalidate any decision of the board. (sec.40-ssec.6) However, if the board becomes aware a member contravened this section, the board must reconsider any decision made by the board in which the member took part in contravention of this section. - (a) a member has a direct or indirect pecuniary or other 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; - (a) be present during any deliberation of the board for the purpose of making the decision; or - (b) take part in the making of the decision by the board.