Part 4 — Board Powers and Elections Division 1 Board Powers
88 Disclosure of pecuniary interest
the board, any committee of the board or any commission,
committee or agency to which the trustee is appointed as a
representative of the board, the trustee shall, if present,
(a) disclose the general nature of the pecuniary interest prio r to
any discussion of the matter,
(b) abstain from voting on any q uestion relating to the matter,
(c) subject to subsection (3), abstain from discussing the mat ter,
and
(d) subject to subsections (2) and (3), leave the room in whic h
the meeting is being held until the discussion and voting on
the matter are concluded.
(2) If the matter with respect to which the trustee has a pecuniary
interest is the payment of an account for which funds have
previously been committed, it is not necessary for the trustee to
leave the room.
(3) If a trustee is temporarily absent from a meeting when a matter
in which the trustee has a pecuniary interest is introduced, the
trustee shall, immediately on the trustee's return to the meeting or
as soon afterwards as the trustee becomes aware that the matter has
been considered, disclose the general nature of the trustee's
pecuniary interest in the matter.
(4) The abstention of a trustee under subsection (1) and the
disclosure of a trustee's pecuniary interest under subsection (1) or
(3) must be recorded in the minutes of the meeting.
(5) If a trustee
(a) has a pecuniary interest in a matter before the board, any
committee of the board or any commission, committee or
agency to which the trustee is appointed as a representative
of the board, and
(b) makes a disclosure of that pecuniary interest in accordance
with this section,
that trustee is not disqualified from being a trustee by reason of
having that pecuniary interest.
(6) Subsection (5) does not apply to an interest referred to in
section 87(1)(d) or (e).
(7) A trustee who contravenes this section is disqualified from
remaining as a trustee of the board.