11.—(1) Subject to the following provisions of this regulation, if the convener or any member of the Commission or a nominee or associate of such person has a pecuniary or other interest, direct or indirect, in any contract, proposed contract or other matter and such person is present at any meeting of the Commission at which the contract, proposed contract or other matter is the subject of consideration, that person shall at the meeting and as soon as practicable after its commencement disclose the 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) Where a person has disclosed an interest as provided for in paragraph (1)–
(a)the convener; or
(b)where the person disclosing the interest is the convener, a majority of the members,
may if the convener thinks or (as the case may be) they think fit, exclude the person from the meeting while any contract, proposed contract or other matter in which the person has a pecuniary interest, direct or indirect, is under consideration.
(3) Any remuneration, compensation or allowances payable to the convener or a member by virtue of these Regulations shall not be treated as a pecuniary interest for the purpose of this regulation.
(4) A person shall not be treated as having an interest in any contract, proposed contract or other matter by reason only that the person, or an associate of the person, has an interest in any company, body or person which is so remote or insignificant that it cannot reasonably be regarded as likely to effect any influence in the consideration or discussion of or in voting on any question with respect to that contract or matter.
(5) This regulation applies to any committee or sub-committee of the Commission as it applies to the Commission and applies to any member of any such committee or sub-committee (whether or not the person is also a member of the Commission) as it applies to a member of the Commission.
(6) For the purposes of this regulation, “associate” has the meaning ascribed to it by section 74 of the Bankruptcy (Scotland) Act 1985(1).