Section 19Part 2 — Establishment, Capital and Administration of Authority
Pecuniary interests for the purposes of section 18
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For the purposes of section 18, a director, a member of the Management Committee or a member of a committee appointed under section 17, shall be treated, subject to subsections (2) and (3) and to section 20, as having indirectly a pecuniary interest in a contract, proposed contract, licence or other matter if —
that person, or any nominee of that person, is a member of a company or other body with which the contract was made or is proposed to be made or which has a direct pecuniary interest in the licence or other matter under consideration;
that person is a partner, or is in the employment of a person with whom the contract was made or is proposed to be made, or who has a direct pecuniary interest in the licence or other matter under consideration; or
that person or any partner of that person is a professional adviser to a person who has a direct or indirect pecuniary interest in a contract, proposed contract, licence or other matter.
Subsection (1) does not apply to membership of or employment under any public body.
In the case of married persons, the interest of one spouse shall be deemed for the purpose of this section to be also the interest of the other.
Defined Terms
indirect pecuniary interestnomineedirect pecuniary interestprofessional adviserspouse
Cross References
- Section 18 of Monetary Authority Actexternal
pecuniary interest of director or committee member
- Section 17 of Monetary Authority Actexternal
additional committees
- Section 20 of Monetary Authority Actexternal
removal or exclusion of disability