Australian Capital Territory Numbered Acts Australian Capital Territory Numbered Acts(1) A member who has a direct or indirect financial interest in a matter being considered or about to be considered by the board must, as soon as possible after the relevant facts have come to his or her knowledge, disclose the nature of his or her interest at a meeting of the board.
Penalty: 20 penalty units.
(2) If a direct or indirect financial interest is disclosed at a meeting, the member presiding must record the disclosure in the minutes of the meeting.
(3) A member disclosing an interest must not, unless the Minister or the board otherwise decides—
(a) be present during a deliberation of the board about that matter; or
(b) take part in a decision of the board about that matter.
(4) If the board is to make a decision under subsection (3), any member who has a direct or indirect financial interest in the matter to which the disclosure relates must not—
(a) be present during a deliberation of the board about the decision; or
(b) take part in making the decision.
(5) The Minister must end the appointment of a member who fails, without reasonable excuse, to comply with this section.