South Australian Current Acts South Australian Current Acts (1) A member of the
Board who is directly or indirectly interested in a contract, or proposed
contract, of the Authority—
(a)
must, as soon as he or she becomes aware of the contract or proposed contract,
disclose the nature of the interest to the Board; and
(b) must
not take part in any deliberations or decision of the Board with respect to
that contract.
Maximum Penalty: $10 000 or imprisonment for 2 years.
(2) Despite
subsection (1), if a member of the Board is a member, officer, ratepayer
or elector of a council with which the Authority has contracted or proposes to
contract, the member is not, by reason of that fact, prevented from taking
part in any deliberations or decisions of the Board that have common
application to that contract or proposed contract and contracts or proposed
contracts with other councils.
(3) A disclosure made
under this section must be recorded in the minutes of the Board.
(4) If a member makes
a disclosure of interest in respect of a contract or proposed contract in
accordance with this section—
(a) the
contract is not void, or liable to be avoided, on any ground arising from the
member's interest in the contract; and
(b) the
member is not liable to account to the Authority for any profits derived from
the contract.