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Disclosure of interests by members of Board.
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23.— (1) A member of the Board who has—
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(a) any interest in any body or concerns with which the Authority has made a contract or proposes to make a contract, or
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(b) any interest in any contract which the Authority has made or proposes to make,
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shall disclose to the Board the fact of such interest and the nature thereof, and shall not be present at any deliberation or decision of the Board relating to the contract.
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(2) Where at a meeting of the Board of the Authority any of the following matters arise, namely—
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(a) an arrangement to which the Authority is a party or a proposed such arrangement, or
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(b) a contract or other agreement with the Authority or a proposed such contract or other agreement,
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then any Board member present at the meeting who otherwise than in his or her capacity as such a Board member is in any way, whether directly or indirectly, interested in the matter—
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(i) shall at the meeting disclose to the Authority the fact of such interest and the nature thereof,
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(ii) shall take no part in any deliberations of the Board relating to such matter save to such extent as the chairperson of the meeting at which such deliberations take place may permit, and
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(iii) shall not vote on a decision relating to the matter.
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(3) Where an interest is disclosed pursuant to this section, the disclosure shall be recorded in the minutes of the meeting concerned and, for so long as the matter to which the disclosure relates is being dealt with by the meeting, the member by whom the disclosure is made shall not be counted in the quorum for the meeting.
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(4) Where, at a meeting of the Board, a question arises as to whether or not a course of conduct, if pursued by a member of the Board, would be a failure by him or her to comply with the requirements of subsection (1), the question may be determined by the chairperson of the meeting whose decision shall be final and where such a question is so determined particulars of the determination shall be recorded in the minutes of the meeting.
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(5) Where the Minister is satisfied that a Board member has failed to comply with a requirement of subsection (1) he or she may, if he or she thinks fit, remove that Board member from office or take such other action as he or she considers appropriate, and where a person is removed from office pursuant to this subsection he or she shall thenceforth be disqualified from being a member of the Board or a director of a subsidiary.
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