sec.31Disclosure of interests by directors

### sec.31 Disclosure of interests by directors If— a director has a direct or indirect pecuniary interest in a matter being considered, or about to be considered, by the board; and the interest could conflict with the proper performance of the director’s duties in relation to consideration of the matter; the director must, as soon as practicable after the relevant facts come to the director’s knowledge, disclose the nature of the interest at a meeting of the board. The disclosure must be recorded in the board’s minutes and, unless the board otherwise determines, the director must not— be present during any deliberations of the board in respect of the matter; or take part in any decision of the board in respect of the matter. A director who makes a disclosure must not— be present at any deliberation by the board for the purpose of making a determination under subsection (2) ; or take part in the making by the board of such a determination. (sec.31-ssec.1) If— a director has a direct or indirect pecuniary interest in a matter being considered, or about to be considered, by the board; and the interest could conflict with the proper performance of the director’s duties in relation to consideration of the matter; the director must, as soon as practicable after the relevant facts come to the director’s knowledge, disclose the nature of the interest at a meeting of the board. (sec.31-ssec.2) The disclosure must be recorded in the board’s minutes and, unless the board otherwise determines, the director must not— be present during any deliberations of the board in respect of the matter; or take part in any decision of the board in respect of the matter. (sec.31-ssec.3) A director who makes a disclosure must not— be present at any deliberation by the board for the purpose of making a determination under subsection (2) ; or take part in the making by the board of such a determination. - (a) a director has a direct or indirect pecuniary interest in a matter being considered, or about to be considered, by the board; and - (b) the interest could conflict with the proper performance of the director’s duties in relation to consideration of the matter; - (a) be present during any deliberations of the board in respect of the matter; or - (b) take part in any decision of the board in respect of the matter. - (a) be present at any deliberation by the board for the purpose of making a determination under subsection (2) ; or - (b) take part in the making by the board of such a determination.