12.—(1) A member who is in any way, directly or indirectly, interested in any matter which falls to be considered by the Institute shall disclose the nature of his interest at a meeting of the Institute and the disclosure shall be recorded in the minutes of the meeting.N.I.
(2) Where such a disclosure is made by any member in relation to any matter, he shall not take part in any deliberation or decision of the Institute with respect to the matter, if the Institute decides that the interest in question might prejudicially affect the member's consideration of the matter.
(3) For the purposes of this paragraph a notice given by a member at a meeting of the Institute to the effect that he is a member of a specified body corporate or firm and is to be regarded as interested in any matter concerning the body or firm which falls to be considered by the Institute after the date of the notice shall be a sufficient disclosure of his interest.
(4) A member need not attend in person at a meeting of the Institute 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 at such a meeting.
(5) Sub-paragraphs (1) to (4) apply in relation to committees of the Institute as they apply in relation to the Institute.