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Disclosure of interests.
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12.—The Principal Act is hereby amended by the insertion of the following section after section 15:
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“15A.—(1) Where at a meeting of an tÚdarás or of a committee or subcommittee of an tÚdarás either of the following matters arises, namely—
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(a) an arrangement to which an tÚdarás is a party or a proposed such arrangement, or
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(b) a contract or other agreement with an tÚdarás or a proposed such contract or other agreement,
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then, a member of an tÚdarás or of a committee or subcommittee of an tÚdarás who otherwise than in his or her capacity as such a member has a pecuniary or other beneficial interest in, or material to, the matter shall—
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(i) disclose to an tÚdarás, the committee or the subcommittee, as the case may be, the fact of his or her interest and the nature thereof,
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(ii) absent himself or herself from the meeting or that part of the meeting during which the matter is discussed,
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(iii) take no part in any deliberations of an tÚdarás, the committee or the subcommittee, as the case may be, relating to the matter,
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(iv) neither influence nor seek to influence a decision to be made in relation to the matter, and
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(v) not vote on a decision relating to the matter.
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(2) Where a disclosure of an interest is made to an tÚdarás or a committee or subcommittee of an tÚdarás pursuant to subsection (1), 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 person by whom the disclosure is made shall not be counted in the quorum for the meeting.
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(3) Where a question arises as to whether or not a course of conduct pursued or to be pursued by a person is or would constitute a failure by him or her to comply with the requirements of subsection (1), the question shall be determined by an tÚdarás, the committee or the subcommittee concerned, as the case may be, and particulars of the determination shall be recorded in the minutes of the meeting concerned.
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(4) A member of the staff of an tÚdarás or a consultant or adviser engaged by an tÚdarás who otherwise than in his or her capacity as such a member, consultant or adviser, as the case may be, has a pecuniary or other beneficial interest in, or material to, a matter specified in paragraph (a) or (b) of subsection (1) shall—
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(a) disclose to an tÚdarás the fact of his or her interest and the nature thereof,
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(b) take no part in any deliberations of an tÚdarás or the members of its staff relating to the matter, and
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(c) neither influence nor seek to influence a decision to be made in relation to the matter.
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(5) For the purposes of this section, but without prejudice to the generality of subsection (1) or (4), a person shall be regarded as having a beneficial interest in a matter if—
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(a) he or she or a member of his or her household, or a nominee of his or hers or of a member of his or her household, is a member of a company or any other body which has a beneficial interest in, or material to, the matter,
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(b) he or she or a member of his or her household is in partnership with a person, or is in the employment of a person, company or other undertaking, who has a beneficial interest in, or material to, the matter,
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(c) he or she or a member of his or her household is a party to an arrangement or agreement (whether or not enforceable) concerning land to which the matter relates, or
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(d) a member of his or her household has a beneficial interest in, or material to, the matter.
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(6) For the purposes of this section a person shall not be regarded as having a beneficial interest in, or material to, a matter by reason only of an interest of his or hers, or of any person, company, body or undertaking mentioned in subsection (5), which is so remote or insignificant that it cannot reasonably be regarded as likely to influence the person in discussing or voting on any question with respect to the matter or in performing any function relating to the matter.
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(7) A person who contravenes this section shall be guilty of an offence and shall be liable on summary conviction to a fine not exceeding £1,500 or to imprisonment for a term not exceeding 12 months or both.”.
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