s.11Disclosure of member's interest
11
Section 11Part 2 — ESTABLISHMENT AND ADMINISTRATION OF THE CAYMAN ISLANDS NATIONAL ATTRACTIONS AUTHORITY

Disclosure of member's interest

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If a member has any pecuniary interest, direct or indirect, in any contract, proposed contract, licence or other matter and is present at a meeting of the board at which any of the contract, proposed contract, licence or other matter is to be considered, the member, at or before the meeting or before the matter is considered, shall —
disclose the fact;
leave the meeting; and
not take part in the consideration or discussion or vote on the matter.
A member who fails to comply with subsection (1) commits an offence and is liable —
on summary conviction, to a fine of five thousand dollars and to imprisonment for six months; and
on conviction on indictment, to a fine of ten thousand dollars and to imprisonment for two years,
unless the member proves that the member did not know that the matter in which the member had a pecuniary interest was the subject of consideration at that meeting.
A disclosure under subsection (1) shall be recorded in the minutes of the board meeting.
This section does not apply to —
an interest in a contract, proposed contract, licence or proposed licence or other matter which a member has as a member of the public; or
an interest in any matter relating to the terms on which the right to participate in any service is offered to the public.

Defined Terms

pecuniary interest

Referenced By