Victorian Consolidated Legislation

Accident Compensation Act 1985 - SECT 31

Pecuniary interests of Directors

31. Pecuniary interests of Directors



(1) A Director who has any pecuniary interest in a matter being considered or
about to be considered by the Board or in any other matter in which the
Authority is concerned must as soon as practicable after the relevant facts
have come to the Director's knowledge, declare the nature of that interest at
a meeting of the Board.

(2) The requirements of subsection (1) do not apply in any case where the
interest of the Director consists only of being a member or creditor of a
company which has an interest in a contract or proposed contract with the
Authority if the interest of the Director may properly be regarded as not
being a material interest.

(3) The person presiding at a meeting at which a declaration is made under
subsection (1) must cause a record of the declaration to be made in the
minutes of the meeting.

(4) After a declaration is made by a Director under subsection (1)-

   (a)  that Director must not be present during any deliberation of the Board
        with respect to that matter; and

   (b)  that Director is not entitled to vote on the matter; and

   (c)  if that Director does vote on the matter, the vote must be disallowed.