(1) A member of the Board who is in any way, either directly or indirectly, interested in a matter before the Authority shall declare the nature of his or her interest at the first meeting of the Board at which it is practicable to do so and shall leave the meeting upon the matter coming up for discussion.
(2) A declaration and the departure of a member of the Board from the meeting in accordance with subsection (1) shall be noted in the minutes of the meeting.
(3) A member of the Board shall not—
(a) vote in respect of a matter before the Board in which he or she is in any way interested, whether directly or indirectly; or
(b) seek to influence the vote of any other member of the Board in relation to the matter.
(4) A member of the Board who fails to comply with subsection (3) commits an offence and upon summary conviction is liable to a fine not exceeding $10,000 or to imprisonment for a term not exceeding 2 years or to both.
(5) Notwithstanding subsection (4), where a member of the Board fails to comply with subsection (3), the failure to comply amounts to misconduct in which case section 18 shall apply.