Australian Capital Territory Consolidated Acts Australian Capital Territory Consolidated Acts(1) This section applies to a member of a school board if—
(a) the member has a direct or indirect financial interest in an issue being considered, or about to be considered, by the board; and
(b) the interest could conflict with the proper exercise of the member's functions in relation to the board's consideration of the issue.
(2) As soon as practicable after the relevant facts come to the member's knowledge, the member must disclose the nature of the interest to a meeting of the school board.
(3) The disclosure must be recorded in the school board's minutes and, unless the board otherwise decides, the member (the first member ) must not—
(a) be present when the board considers the issue; or
(b) take part in a decision of the board on the issue.
(4) Any other member who also has a direct or indirect financial interest in the issue must not—
(a) be present when the school board is considering its decision under subsection (3) in relation to the first member; or
(b) take part in making the decision.
(5) Within 14 days after the end of each financial year, the chairperson of the school board must give the chief executive a statement of any disclosure of interest made under this section in relation to the school board during the financial year.