Commonwealth Numbered Acts

Housing Loans Insurance Amendment Act 1985 No. 34 of 1985 - SECT 8

8. Section 10 of the Principal Act is repealed and the following section is
substituted: Disclosure of interests

"10. (1) A member who has a direct or indirect pecuniary interest in a matter
being considered or about to be considered by the Corporation shall, as soon
as possible after the relevant facts have come to his knowledge, disclose the
nature of the interest at a meeting of the Corporation.

"(2) A disclosure under sub-section (1) shall be recorded in the minutes of
the meeting and the member shall not, without the approval of the Minister-

   (a)  be present during any deliberation of the Corporation with respect to
        that matter; or

   (b)  take part in any decision of the Corporation with respect to that
        matter.".