(1) Where a member of the staff (including the Chief Executive) of the Authority or a consultant, adviser or other person engaged by the Authority has a material interest, otherwise than in his or her capacity as such a member or as such a consultant, adviser or other person engaged by the Authority, in any contract, agreement or arrangement, or proposed contract, agreement or arrangement, to which the Authority is a party, that person shall -

(a) disclose to the Authority his or her interest and the nature of the interest in advance of any consideration of the matter,

(b) neither influence nor seek to influence a decision relating to the matter nor make any recommendation in relation to the contract, agreement or arrangement, and

(c) take no part in the negotiation of the contract, agreement or arrangement or in any deliberation by the Authority or staff of the Authority relating to the matter.

(2) Subsection (1) does not apply to a person as regards a contract or proposed contract of employment of that person as a member of the staff of the Authority.