(1) A member of the Board who, directly or indirectly, has a pecuniary or other interest in a matter before the Board shall declare the nature of his or her interest at the first meeting of the Board at which it is practicable to do so.
(2) A disclosure under subsection (1) shall be recorded in the minutes of the meeting of the Board and after the disclosure the member concerned may not vote on the matter, and unless otherwise directed by the Board shall not be present at any meeting when the matter is being decided by the Board.
(3) A declaration and the member leaving the meeting in accordance with subsections (1) and (2) must be noted in the minutes of the meeting.
(4) Notwithstanding this section, where the Chief Executive Officer discloses any pecuniary or non-pecuniary interest in a matter before the Board or another matter that involves the Authority, the Board shall decide whether the functions of the Chief Executive Officer must be carried out by the Chief Executive Officer or otherwise.