Victorian Consolidated Legislation

Emergency Services Superannuation Act 1986 - SECT 12D

Pecuniary interests of members of the Board

12D. Pecuniary interests of members of the Board



(1) A member of the Board 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 Board is concerned must, as soon as practicable after the relevant
facts have come to the member'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 member of the Board consists only of being a shareholder or
creditor of a company which has an interest in a contract or proposed contract
with the Board if the interest of the member 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 member of the Board under subsection (1)-

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

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

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

(5) A member of the Board is not to be taken to have a pecuniary interest in a
matter only because the member has or may become entitled to a benefit from
the Fund.