Commonwealth Consolidated Acts

FUTURE FUND ACT 2006 - SECT 71

Restrictions on voting and being present

  (1)   A Board member who has a material personal interest in a matter that is being considered at a Board meeting must not:

  (a)   be present while the matter is being considered at the meeting; or

  (b)   vote on the matter;

unless:

  (c)   subsection   (2) or (3) allows the Board member to be present; or

  (d)   the interest does not need to be disclosed under section   68.

Participation with approval of other Board members

  (2)   The Board member may be present and vote if Board members who do not have a material personal interest in the matter have passed a resolution that:

  (a)   identifies the Board member, the nature and extent of the Board member's interest in the matter and its relation to the affairs of the Board; and

  (b)   states that those Board members are satisfied that the interest should not disqualify the Board member from voting or being present.

Participation with Ministerial approval

  (3)   The Board member may be present and vote if the Board member is so entitled under a declaration or order made by the responsible Ministers under section   72.

Effect of contravention by Board member

  (4)   A contravention by a Board member of:

  (a)   this section; or

  (b)   a condition attached to a declaration or order made by the responsible Ministers under section   72;

does not affect the validity of any resolution.