Industry Research and Development Act 1986
PART II
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ADMINISTRATION
SECTION 16
DISCLOSURE OF INTERESTS BY MEMBERS OF BOARD
16(1)
A member who has a direct or indirect pecuniary interest in a matter being considered or about to be considered by the Board shall, as soon as possible after the relevant facts have come to the knowledge of the member, disclose the nature of that interest at a meeting of the Board.
16(2)
A disclosure under subsection (1) shall be recorded in the minutes of the meeting of the Board and the member shall not, unless the Minister or the Board otherwise determines:
(a) be present during any deliberation of the Board with respect to that matter; or
(b) take part in any decision of the Board with respect to that matter.
16(3)
For the purpose of the making of a determination by the Board under subsection (2) in relation to a member who has made a disclosure under subsection (1), a member who has a direct or indirect pecuniary interest in the matter to which the disclosure relates shall not:
(a) be present during any deliberation of the Board for the purpose of making the determination; or
(b) take part in the making by the Board of the determination.
16(4)
(Repealed by No 164 of 2007)
A member who has a direct or indirect pecuniary interest in a matter being considered or about to be considered by the Board shall, as soon as possible after the relevant facts have come to the knowledge of the member, disclose the nature of that interest at a meeting of the Board.
16(2)
A disclosure under subsection (1) shall be recorded in the minutes of the meeting of the Board and the member shall not, unless the Minister or the Board otherwise determines:
(a) be present during any deliberation of the Board with respect to that matter; or
(b) take part in any decision of the Board with respect to that matter.
16(3)
For the purpose of the making of a determination by the Board under subsection (2) in relation to a member who has made a disclosure under subsection (1), a member who has a direct or indirect pecuniary interest in the matter to which the disclosure relates shall not:
(a) be present during any deliberation of the Board for the purpose of making the determination; or
(b) take part in the making by the Board of the determination.
16(4)
(Repealed by No 164 of 2007)
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