7(1)A member who is in any way directly or indirectly interested in any matter that is brought up for consideration at a meeting of the Corporation shall disclose the nature of his interest to the meeting; and, where such a disclosure is made—U.K.
(a)the disclosure shall be recorded in the minutes of the meeting, and
(b)(subject to sub-paragraph (2)) the member shall not take any part in any deliberation or decision of the Corporation, or of any of their committees, with respect to that matter.
(2)Sub-paragraph (1)(b) shall not apply in relation to any meeting of the Corporation at which all of the other members present resolve that the member’s interest should be disregarded for the purposes of that provision.
(3)For the purposes of sub-paragraph (1), a general notification given at a meeting of the Corporation by a member to the effect that he is a member of a specified company or firm and is to be regarded as interested in any matter involving that company or firm shall be regarded as a sufficient disclosure of his interest in relation to any such matter.
(4)A member need not attend in person at a meeting of the Corporation in order to make a disclosure which he is required to make under this paragraph if he takes reasonable steps to secure that the disclosure is made by a notice which is taken into consideration and read at the meeting.
(5)In this paragraph references to a meeting of the Corporation include references to a meeting of any of their committees.