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Disclosure of certain interests.
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19.—(1) Where a member of the Authority or an officer (including the chief executive) or servant of the Authority has a pecuniary or other beneficial interest in, or material to, any matter which to his knowledge falls to be decided or determined by or on behalf of the Authority, he shall comply with the following requirements:
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(a) he shall disclose to the Authority the nature of his interest in advance of any relevant decision or determination under this subsection;
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(b) he shall neither influence nor seek to influence a decision to be made by or on behalf of the Authority in relation to the matter;
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(c) he shall take no part in any consideration of the matter;
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(d) if he is a member of the Authority he shall take no part in a discussion by the Authority of the matter and shall not vote or otherwise act as a member of the Authority in relation to the matter.
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(2) For the purposes of this section, but without prejudice to the generality of subsection (1), a person shall be regarded as having a beneficial interest if—
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(a) he or his spouse, or any nominee of his or his spouse, is a member of a company or any other body which has a beneficial interest in, or material to, a matter referred to in that subsection,
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(b) he or his spouse is in partnership with or is in the employment of a person who has a beneficial interest in, or material to, such a matter,
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(c) he or his spouse is a party to any arrangement or agreement (whether or not enforceable) concerning land to which such a matter relates,
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(d) his spouse has a beneficial interest in, or material to, such a matter.
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(3) For the purposes of this section, a person shall not be regarded as having a beneficial interest in, or material to, any matter by reason only of an interest of his or of any company or of any other body or person mentioned in subsection (2) which is so remote or insignificant that it cannot reasonably be regarded as likely to influence a person in considering or discussing, or in voting on, any question with respect to the matter, or in performing any function in relation to that matter.
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(4) Where at a meeting of the Authority a disclosure is made under this section, particulars of the disclosure shall be recorded in the minutes of the meeting.
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(5) A person who knowingly contravenes or fails to comply with a requirement of this section shall be guilty of an offence.
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