Victorian Consolidated Legislation

Epworth Foundation Act 1980 - SECT 18

Disclosure of interests

18. Disclosure of interests



(1) A member of the Board of Management or of any committee or council formed
pursuant to section 17 who has or acquires any financial interest, other than
a financial interest which may properly be regarded as not of a material
nature, in a contract or arrangement made or proposed to be made by the
Foundation shall disclose his or her interest in the contract or arrangement
or proposed contract or arrangement to the Board or committee or council (as
the case may be).

(2) A member who makes a disclosure under subsection (1) shall do so-

   (a)  if the member is aware of his or her interest at the first meeting of
        the Board of Management or committee or council at which the contract
        or arrangement or proposed contract or arrangement is considered-at
        that meeting; or

   (b)  if his or her interest does not exist when the contract or arrangement
        or proposed contract or arrangement is first considered by the Board
        or committee or council or the member is not aware of its existence-at
        the first meeting of the Board or committee or council after the
        member acquires his or her interest or becomes aware of his or her
        interest (as the case may be).

(3) A member of the Board of Management or committee or council who makes a
disclosure under subsection (1) shall not vote on any resolution concerning
the contract or arrangement or proposed contract or arrangement in respect of
which the disclosure was made.





(4) Notwithstanding this section, any act done or resolution passed at any
meeting of the Board of Management or any committee or council shall be valid
and effective notwithstanding the breach by any member of the Board or
committee or council of the terms of this section.