Commonwealth Consolidated Acts

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AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION ACT 2001 - SECT 211

Disclosure of interests

  (2)   A member who has a direct or indirect pecuniary interest in a matter being considered or about to be considered by the Disciplinary Board or a Panel of the Disciplinary Board must, as soon as possible after the relevant facts have come to his or her knowledge, disclose the nature of his or her interest at a meeting of the Disciplinary Board or the Panel.

  (3)   A disclosure under subsection   (2) must be recorded in the minutes of the meeting of the Disciplinary Board or the Panel and the member must not, unless the Minister or the Disciplinary Board or the Panel otherwise determines:

  (a)   be present during any deliberation of the Disciplinary Board or the Panel with respect to that matter; or

  (b)   take part   in any decision of the Disciplinary Board or the Panel with respect to that matter.

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

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

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



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