Queensland Numbered Acts Queensland Numbered Acts(1) If—
(a) a member has a direct or indirect pecuniary or other interest in a matter being considered or about to be considered at a meeting of the board; and
(b) the interest appears to raise a conflict with the proper performance of the member's duties in relation to the consideration of the matter;
the member must, as soon as possible after the relevant facts have come to the member's knowledge, disclose the nature of the interest at a meeting of the board.
(2) Particulars of any disclosure made under this section must be recorded by the board in a register of interests kept for the purpose.
(3) After a member has disclosed the nature of an interest in any matter, the member must not—
(a) be present during any deliberation of the board about the matter; or
(b) take part in any decision of the board about the matter.
(4) For the making of a decision by the board under subsection (3), a member who has a direct or indirect pecuniary or other interest in a matter to which the disclosure relates must not—
(a) be present during any deliberation of the board for the purpose of making the decision; or
(b) take part in the making of the decision by the board.
(5) A contravention of this section does not invalidate any decision of the board.
(6) However, if the board becomes aware a member contravened this section, the board must reconsider any decision made by the board in which the member took part in contravention of this section.
(7) A member may have regard to, or may act in, the interests of the entity that nominated the member for section 14.
(8) However, a member may not act in a way that is contrary to the interests of the corporation.
(9) A reference to an interest or to a conflict of interest is a reference to a matter within its ordinary meaning under the general law, and, in relation to an interest, the definition in the Acts Interpretation Act 1954, section 36 does not apply.