Commonwealth Numbered Acts

AUSTRALIAN POSTAL CORPORATION ACT 1989 No. 64 of 1989 - SECT 71

71. (1) If:

   (a)  a director has a direct or indirect pecuniary interest in a matter
        being considered, or about to be considered, by the Board; and

   (b)  the interest could conflict with the proper performance of the
        director's duties in relation to the consideration of the matter; the
        director shall, as soon as practicable after the relevant facts come
        to the director's knowledge, disclose the nature of the interest at a
        meeting of the Board.

(2) A disclosure under subsection (1) shall be recorded in the minutes of the
meeting and, unless the Minister or the Board otherwise determines, the
director shall not:

   (a)  be present during any deliberation of the Board in relation to the
        matter; or

   (b)  take part in any decision of the Board in relation to the matter.

(3) For the purpose of the making of a determination by the Board under
subsection (2) in relation to a director who has made a disclosure under
subsection (1), a director who has a direct or indirect pecuniary interest in
the matter to which the disclosure relates shall not:

   (a)  be present during any deliberation of the Board for the purpose of
        making the determination; or

   (b)  take part in the making by the Board of the determination.

(4) Subsection (1) does not apply in relation to a matter relating to the
supply of goods or services for the director if the goods or services are, or
are to be, available to members of the public on the same terms and
conditions.