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The Regional Business Services Organisation (Membership and Procedure) Regulations (Northern Ireland) 2009

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Disclosure of pecuniary interest and exclusion of Chair and members of the RBSO in proceedings on account of pecuniary interest

9.—(1) Subject to the following provisions of this regulation, if the Chair or any other member of the RBSO has a pecuniary interest, direct or indirect, in any contract, proposed contract or other matter and is present at any meeting of the RBSO at which the contract, proposed contract or other matter is the subject of consideration, he shall, at the meeting or as soon as practicable after its meeting, disclose his interest and shall not take part in the consideration or discussion of the contract or other matter or vote on any question with respect to it.

(2) The RBSO may, by standing orders made under regulation 12, provide for the exclusion of the Chair or any other member of the RBSO from a meeting of the RBSO while any contract or other matter in which he has a pecuniary interest, direct or indirect, is under consideration.

(3) Any remuneration, compensation or allowances payable to the Chair or other member of the RBSO by virtue of paragraph 4 of Schedule 4 to the Act (remuneration and allowances) shall not be treated as pecuniary interest for the purpose of this regulation.

(4) Subject to paragraphs (2) and (5), the Chair or other member of the RBSO shall be treated for the purpose of this regulation as having an indirect pecuniary interest in a contract, proposed contract or other matter if—

(a)he, or a nominee of his, is a director of a company or other body, not being a public body, with which the contract was made or is proposed to be made or which has a direct pecuniary interest in the other matter under consideration; or

(b)he is a partner of, or in the employment of, a person with whom the contract was made or who has a direct pecuniary interest in the other matter under consideration;

and in the case of married persons living together the interest of one spouse shall, if known to the other, be deemed for the purpose of this regulation to be also an interest of the other.

(5) Neither the Chair nor a member of the RBSO shall be treated as having a pecuniary interest in any contract, proposed contract or other matter by reason only—

(a)of his membership of a company or other body if he has no beneficial interest in any securities of that company or other body; or

(b)of an interest in any company, body or person with which he is connected as mentioned in paragraph (4) which is so remote or insignificant that it cannot reasonably be regarded as likely to influence him in consideration or discussion of, or in voting on, any question with respect to that contract, proposed contract or other matter.

(6) Where the Chair or other member of the RBSO—

(a)has an indirect pecuniary interest in a contract, proposed contract or other matter by reason only of a beneficial interest in securities of a company or other body; and

(b)the total nominal value of those securities does not exceed £5000 or one-hundredth of the total nominal value of the issued share capital of the company or body, whichever is the lesser; and

(c)if the share capital is of more than one class, the total nominal value of shares of any one class in which he has a beneficial interest does not exceed one-hundredth of the total issued capital of that class,

this regulation shall not prohibit him from taking part in the consideration or discussion of the contract, proposed contract or other matter, or from voting on any question with respect to it, without prejudice however to his duty to disclose his interest.

(7) This regulation applies to any committee or sub-committee of the RBSO as it applies to the RBSO and applies to any member of any such committee or sub-committee (whether or not he is also a member of the RBSO) as it applies to a member of the RBSO.

(8) In this regulation—

“public body” includes—

(a)

any body established for the purpose of carrying on under national ownership, any industry or undertaking or part of any industry or undertaking;

(b)

the governing body of any university, university college or college school or hall of a university; and

(c)

the National Trust for Places of Historic Interest or Natural Beauty incorporated by the National Trust Act(1);

“securities” means—

(a)

shares or debentures, whether or not constituting a charge on the assets of a company or other body, or rights or interests in any share or such debentures; or

(b)

rights (whether actual or contingent) in respect of money lent to, or deposited with, any industrial or provident society or building society;

“shares” means shares in the share capital of a company or other body or the stock of a company or other body.

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