| (1) |
A member may not engage in any paid employment that will conflict with the proper performance of his or her functions as a member. |
[Section 15(1) substituted by section 9 of Act No. 42 of 2007]
| (2) |
A member who has a direct or indirect pecuniary interest in a matter being considered by the Board must, without delay after the relevant facts have come to the member’s knowledge, disclose the nature of the interest at a meeting of the Board. |
| (3) |
A disclosure in terms of subsection (2) must be recorded in the minutes of the meeting, and the member may not, unless the Board otherwise determines— |
| (a) |
be present during any deliberation of the Board with respect to that matter; or |
| (b) |
take part in any decision of the Board with respect to that matter. |
| (4) |
For the purpose of making a determination under subsection (3), a member who has a direct or indirect pecuniary interest in the matter to which the disclosure relates may not— |
| (a) |
be present during any deliberation of the Board for the purpose of making the determination; or |
| (b) |
take part in making the determination. |
| (5) |
Members must comply with the provisions of the Companies Act, 1973 (Act No. 61 of 1973), applicable to directors of companies. |
Copyright Act, 1978
