511Pecuniary interests of Directors

511 Pecuniary interests of Directors (1) A Director who has any pecuniary interest in a matter being considered or about to be considered by the Board or in any other matter in which the Authority is concerned must as soon as practicable after the relevant facts have come to the Director's knowledge, declare the nature of that interest at a meeting of the Board. (2) The requirements of subsection (1) do not apply in any case where the interest of the Director consists only of being a member or creditor of a company which has an interest in a contract or proposed contract with the Authority if the interest of the Director may properly be regarded as not being a material interest. (3) The person presiding at a meeting at which a declaration is made under subsection (1) must cause a record of the declaration to be made in the minutes of the meeting. (4) After a declaration is made by a Director under subsection (1)— (a) the Director must not be present during any deliberation of the Board with respect to that matter; and (b) the Director is not entitled to vote on the matter; and (c) if the Director does vote on the matter, the vote must be disallowed. Division 3—WorkCover Advisory Committee