sec.41Member must disclose interest

### sec.41 Member must disclose interest This section applies if— a member who is present at a meeting of the board (the interested member ) has a direct or indirect pecuniary or other interest in a matter being considered or about to be considered at the meeting; and See section 26 (2) . 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 interested member must, as soon as possible after the relevant facts have come to the interested member’s knowledge, disclose the nature of the interest at the meeting. Maximum penalty—40 penalty units. Particulars of any disclosure made under this section must be recorded by the board in a register of interests kept for the purpose. Unless the board otherwise directs, the interested 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. For the giving of a direction by the board under subsection (4) , the interested member must not— be present during any deliberation of the board for the purpose of deciding whether to give the direction; or take part in the decision about giving the direction by the board. A contravention of this section does not invalidate any decision of the board. However, if the board becomes aware a member has contravened this section, the board must reconsider any decision made by the board in which the member took part in contravention of this section. If a member holds office under section 14 (1) (a) , (b) or (c) , the member may have regard to and act in the interests of the board code of racing stated in the member’s instrument of appointment. However, a member may not act in a way that is contrary to the interests of the board. A reference to an interest or a conflict of interest is a reference to a matter within its ordinary meaning under the general law, and, in relation to an interest, the definition in the Acts Interpretation Act 1954 , schedule 1 does not apply. s 41 prev s 41 amd 2012 No. 42 s 24 om 2016 No. 12 s 341 pres s 41 ins 2012 No. 42 s 11 amd 2013 No. 39 s 110 (1) sch 3 pt 1 ; 2016 No. 12 s 318 ; 2026 No. 3 s 33K (sec.41-ssec.1) This section applies if— a member who is present at a meeting of the board (the interested member ) has a direct or indirect pecuniary or other interest in a matter being considered or about to be considered at the meeting; and See section 26 (2) . the interest appears to raise a conflict with the proper performance of the member’s duties in relation to the consideration of the matter. (sec.41-ssec.2) The interested member must, as soon as possible after the relevant facts have come to the interested member’s knowledge, disclose the nature of the interest at the meeting. Maximum penalty—40 penalty units. (sec.41-ssec.3) Particulars of any disclosure made under this section must be recorded by the board in a register of interests kept for the purpose. (sec.41-ssec.4) Unless the board otherwise directs, the interested 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. (sec.41-ssec.5) For the giving of a direction by the board under subsection (4) , the interested member must not— be present during any deliberation of the board for the purpose of deciding whether to give the direction; or take part in the decision about giving the direction by the board. (sec.41-ssec.6) A contravention of this section does not invalidate any decision of the board. (sec.41-ssec.7) However, if the board becomes aware a member has 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.41-ssec.8) If a member holds office under section 14 (1) (a) , (b) or (c) , the member may have regard to and act in the interests of the board code of racing stated in the member’s instrument of appointment. (sec.41-ssec.9) However, a member may not act in a way that is contrary to the interests of the board. (sec.41-ssec.10) A reference to an interest or a conflict of interest is a reference to a matter within its ordinary meaning under the general law, and, in relation to an interest, the definition in the Acts Interpretation Act 1954 , schedule 1 does not apply. - (a) a member who is present at a meeting of the board (the interested member ) has a direct or indirect pecuniary or other interest in a matter being considered or about to be considered at the meeting; and Note— See section 26 (2) . - (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 about the matter; or - (b) take part in any decision of the board about the matter. - (a) be present during any deliberation of the board for the purpose of deciding whether to give the direction; or - (b) take part in the decision about giving the direction by the board.