Disclosure by members of the Board of interest in proposed contract.
12.—A member of the Board who has—
(a) any interest in any company or concern with which the Board proposes to make any contract, or
(b) any interest in any contract which the Board proposes to make,
shall disclose to the Board the fact of such interest and the nature thereof, and shall take no part in any deliberation or decision of the Board relating to such contract, and such disclosure shall be recorded in the minutes of the Board.
