(1) A member of the Council who has a direct or indirect pecuniary interest in a contract or other matter being dealt with by the Council must disclose the nature of that interest at a meeting of the Council as soon as possible after becoming aware of the interest.
(2) A member of the Council who holds an office or possesses property as a result of which, directly or indirectly, duties or interests may be created in conflict with the member's duties as a member, must disclose that fact at a meeting of the Council as soon as possible after becoming aware of the potential conflict.
(3) The person presiding at a meeting at which a disclosure under this section is made must cause that disclosure to be recorded in the minutes of the meeting.
(4) A person who has made a disclosure under this section must not take any further part in the discussion of or vote on the contract or other matter to which the disclosure relates.
(5) If a member votes on a matter in contravention of subsection (4), his or her vote must be disallowed.
Division 3—Corporate plans and financial matters of the Council