102Advisory panel—disclosure of members interests

102 Advisory panel—disclosure of members interests (1) If a member of the advisory panel has a material interest in an issue in relation to which the advisory panel has been asked to advise the conservator, the member or advisory panel must disclose the nature of the interest to the conservator as soon as practicable after the member or the advisory panel becomes aware of the relevant facts. (2) The member must not advise, or further advise, the conservator in relation to the issue, unless the conservator directs otherwise. (3) Within 14 working days after the end of each financial year, the conservator must give the Minister a statement of any disclosure of interest made under this section, and any direction given by the conservator, during the financial year.

material interest—an advisory panel member has a material interest in an issue if the member has— (a) a direct or indirect financial interest in the issue; or (b) a direct or indirect interest of any other kind if the interest could conflict with the proper exercise of the advisory panel’s functions in relation to advising the conservator about the issue.