Northern Territory Consolidated Acts Northern Territory Consolidated Acts(1) A Board member who has a direct or indirect pecuniary interest in:
(a) a matter being considered or about to be considered at a meeting of the Board; or
(b) a thing being done or about to be done by the Board,
otherwise than as a member of, and in common with the other members of, an incorporated company consisting of not less than 25 members and of which he is not a director 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 Board.
(2) A disclosure by a Board member at a meeting of the Board that he:
(a) is a member, or is in the employment, of a specified company or other body;
(b) is a partner, or is in the employment, of a specified person; or
(c) has some other specified interest relating to a specified company or other body or a specified person,
shall be deemed to be a sufficient disclosure of the nature of the interest in any matter or thing relating to that company or other body, or to that person, which may arise after the date of the disclosure.
(3) The Board shall cause particulars of all disclosures made under this section to be recorded in a book kept for the purpose and that book shall be open at all reasonable times to inspection by any person on payment of such fee, if any, as is determined from time to time by the Board.
(4) After a Board member has, or shall be deemed to have, disclosed the nature of an interest in a matter or thing pursuant to this section, he shall not, unless the Board (in the absence of that Board member) otherwise determines:
(a) be present during any deliberation of the Board, or take part in a decision of the Board, in relation to that matter; or
(b) exercise a function under this Act in relation to that thing.
(5) A contravention of or non-compliance with this section does not invalidate a decision of the Board or the exercise of a power or performance of a function under this Act.
(6) Nothing in this section applies to or in relation to an interest of a Board member in a matter or thing which arises by reason only of his being a medical practitioner.
(7) A reference in this section to the Board includes a reference to a committee of the Board and a reference to a Board member includes a reference to a member of a committee of the Board who is not a Board member.