Northern Territory Numbered Acts Northern Territory Numbered Acts(1) This section applies if an appointed person has a personal interest in a matter being considered or about to be considered by the Board.
(2) The appointed person must disclose the following at a meeting of the Board as soon as practicable after the relevant facts come to the appointed person's knowledge:
(a) the nature and extent of the personal interest;
(b) how the interest relates to the matter mentioned in subsection (1).
(3) The disclosure must be recorded in the minutes of the meeting.
(4) For this section, an appointed person has a personal interest in a matter if the appointed person:
(a) has a direct or indirect financial interest in the matter otherwise than as a member of, and in common with the other members of, an incorporated company consisting of not less than 25 persons and of which the appointed person is not a director; or
(b) has a personal, professional, commercial or other relationship with a person and the nature of the relationship is likely to, or may reasonably be regarded as likely to, inhibit or prevent the appointed person from exercising independent judgment about the matter.