SOUTH-EAST QUEENSLAND WATER (DISTRIBUTION AND RETAIL RESTRUCTURING) ACT 2009 - SECT 42 Disclosure of interests

SOUTH-EAST QUEENSLAND WATER (DISTRIBUTION AND RETAIL RESTRUCTURING) ACT 2009 - SECT 42

42 Disclosure of interests

(1) This section applies to a member of a board (the
"interested member" ) if—

(a) the member has an interest in an issue being considered or about to be considered by the board; and

(b) the interest could conflict with the proper performance of the member’s duties about the consideration of the issue.

(2) After the relevant facts come to the interested member’s knowledge, the member must disclose the nature of the interest to a board meeting.

(3) Unless the board otherwise directs, the interested member must not—

(a) be present when the board considers the issue; or

(b) take part in a decision of the board about the issue.

(4) The interested member must not be present when the board is considering whether to give a direction under subsection (3) .

(5) If there is another person who must under subsection (2) also disclose an interest in the issue, the other person must not—

(a) be present when the board is considering whether to give a direction under subsection (3) about the interested member; or

(b) take part in making the decision about giving the direction.

(6) If—

(a) because of this section a board member is not present at a board meeting for considering or deciding an issue or for considering or deciding whether to give a direction under subsection (3) ; and

(b) there would be a quorum if the member were present;

the remaining members present are a quorum of the board for considering or deciding the issue or for considering or deciding whether to give the direction at the meeting.

(7) If there are no members who may remain present for considering or deciding an issue, the distributor-retailer’s participants may, by each signing consent to a proposed resolution, consider and decide the issue.

(8) A disclosure under subsection (2) must be recorded in the board’s minutes.

(9) To remove any doubt, it is declared that the fact that a relevant council has an interest in an issue does not, of itself, mean that the councillor-member for the council has an interest in the issue.