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7A member of the Corporation shall, if he is in any way directly or indirectly interested in a contract made or proposed to be made by the Corporation, disclose the nature of his interest at a meeting of the Corporation as soon as possible after the relevant circumstances have come to his knowledge; and—E+W+S+N.I.
(a)any disclosure made by a member under this paragraph shall be recorded in the minutes of the Corporation;
(b)the member shall not take part after the disclosure in any deliberation or decision of the Corporation with respect to the contract;
(c)the member shall be disregarded for the purpose of constituting a quorum of the Corporation for any such deliberation or decision.
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