(1) If a member of the Board has a pecuniary interest or other beneficial interest in, and material to, a matter that falls to be considered by the Board -
(a) he or she shall disclose to the other members of the Board the nature of his or her interest in advance of any consideration of the matter,
(b) he or she shall not influence nor seek to influence a decision to be made in relation to the matter,
(c) he or she shall take no part in any consideration of the matter,
(d) he or she shall absent himself or herself from the meeting or that part of the meeting during which the matter is discussed, and
(e) he or she shall not vote or otherwise act on a decision relating to the matter.
(2) If a member discloses an interest pursuant to subsection (1), the disclosure shall be recorded in the minutes of the meeting of the Board or otherwise duly recorded. The Board may, at its discretion, refer to the disclosure in NAMA's quarterly report.
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