s.12Pecuniary interests for the purposes of section 11
12
Section 12Part 2 — Establishment and Administration of Council

Pecuniary interests for the purposes of section 11

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For the purposes of section 11, a person shall be treated, subject to subsections (2) and (3) and to section 13, as having indirectly a pecuniary interest in a contract, proposed contract or other matter if —
he, or any nominee of his, 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 other matter under consideration;
he 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 other matter under consideration; or
he, or any partner of his, is a professional adviser to a person who has a direct or indirect pecuniary interest in a contract, proposed contract or other matter.
Subsection (1) does not apply to membership of or employment under any public body, and a member of a company or other body shall not, by reason only of his membership, be treated as having an interest in a contract, proposed contract or other matter if he has no beneficial interest in any securities of that company or other body.
In the case of married persons, the interest of one spouse shall be deemed for the purpose of section 11 to be also the interest of the other.

Defined Terms

indirect pecuniary interestbeneficial interestnominee

Cross References

Referenced By