(1) A member of the Board who has a pecuniary or other interest in a matter before the Board shall declare the nature of his or her interest at the first meeting of the Board at which it is practicable to do so.
(2) Where a member of the Board declares an interest under subsection (1), the member of the Board shall leave the meeting on the matter coming up for discussion and shall not receive other communication on the matter.
(3) A declaration under subsection (1) and the departure of a member of the Board from the meeting under subsection (2) must be noted in the minutes of the meeting.
(4) A member of the Board commits an act of misconduct if he or she —
(a) contravenes subsection (1);
(b) votes in respect of a matter before the Board in which he or she has an interest;
(c) seeks to influence the vote of another member of the Board in relation to a matter before the Board.
(5) Where a person contravenes subsection (1), his or her appointment may be revoked under section 18(c).