Commonwealth Numbered Acts

INDUSTRY RESEARCH AND DEVELOPMENT ACT 1986 No. 89 of 1986 - SECT 16

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

(2) A disclosure under sub-section (1) shall be recorded in the minutes of the
meeting of the Board and the member shall not, unless the Minister or the
Board otherwise determines-

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

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

(3) For the purpose of the making of a determination by the Board under
sub-section (2) in relation to a member who has made a disclosure under
sub-section (1), a member who has a direct or indirect pecuniary interest in
the matter to which the disclosure relates shall not-

   (a)  be present during any deliberation of the Board for the purpose of
        making the determination; or

   (b)  take part in the making by the Board of the determination.

(4) In this section, a reference to a member shall be read as including a
reference to an acting member.