6(1)A Commissioner must avoid a situation in which the Commissioner has, or may have, a direct or indirect interest that conflicts, or may conflict, with the interests of the Commission.
(2)Sub-paragraph (1) applies in particular to the exploitation of any property, information or opportunity (and it is immaterial whether the Commission could take advantage of the property, information or opportunity).
(3)The duty under sub-paragraph (1) is not infringed—
(a)if the situation cannot reasonably be regarded as likely to give rise to a conflict of interest, or
(b)if the matter giving rise to a situation under sub-paragraph (1) has been authorised by the Commission.
(4)Authorisation by the Commission is effective only if—
(a)any requirement as to the quorum at the meeting at which the matter is considered is met without counting the Commissioner in question, and
(b)the matter was agreed to without the Commissioner voting or would have been agreed to if the Commissioner’s vote had not been counted.