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Industry Act 1975

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This is the original version (as it was originally enacted).

Proceedings

12The quorum of the Board and the arrangements relating to meetings of the Board shall be such as the Board may determine.

13(1)A member who is in any way directly or indirectly interested in a contract made or proposed to be made by the Board, or in any other matter whatsoever which falls to be considered by the Board, shall disclose the nature of his interest at a meeting of the Board and the disclosure shall be recorded in the minutes of the meeting.

(2)The member shall not—

(a)in the case of any such contract, take part in any deliberation or decision of the Board with respect to the contract; and

(b)in the case of any other matter, take part in any deliberation or decision of the Board with respect to the matter ii the Board decide 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 Board to the effect that he is a member of a specified body corporate or firm and is to be regarded as interested in any contract which is made with the body corporate or firm after the date of the notice, and in any other matter whatsoever concerning the body corporate or firm which falls to be considered by the Board after that date, shall be a sufficient disclosure of his interest.

(4)A member need not attend in person at a meeting of the Board 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 such a meeting.

14The validity of any proceedings of the Board shall not be affected by any vacancy among the members or by any defect in the appointment of a member or by any failure to comply with the requirements of paragraph 13 above.

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