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Housing Act 1974

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This is the original version (as it was originally enacted).

27Disclosure of interest by members of committees of registered 1965 Act associations

(1)Subject to the provisions of this section, it shall be the duty of a member of the committee of a registered 1965 Act association who is in any way, whether directly or indirectly, interested in a contract or proposed contract with the association to declare the nature of his interest to the committee in accordance with this section.

(2)In the case of a proposed contract, the declaration required by this section to be made by a member of a committee shall be made at the meeting of the committee at which the question of entering into the contract is first taken into consideration, or, if the member was not at the date of that meeting interested in the proposed contract, at the next meeting of the committee held after he becomes interested in the proposed contract.

(3)Where a member of a committee becomes interested in a contract with the association after it is made, the declaration required by this section shall be made at the first meeting of the committee held after he becomes interested in the contract.

(4)For the purposes of this section, a general notice given at a meeting of the committee of an association by a member of the committee to the effect that he is a member of a specified company or firm, and is to be regarded as interested in any contract which may, after the date of the notice, be made with that company or firm, is a sufficient declaration of interest in relation to any contract made after that date with that company or firm.

(5)A member of a committee need not make a declaration or give a notice under this section by attending in person at a meeting of the committee if he takes reasonable steps to secure that the declaration or notice is brought up and read at the meeting.

(6)A member of a committee who fails to comply with the provisions of this section shall be liable on summary conviction to a fine not exceeding £200.

(7)Nothing in this section shall be taken to prejudice the operation of any rule of law restricting members of the committee of a registered 1965 Act association from having any interest in contracts with the association.

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