(1) It is the duty of a member who is in any way, whether directly or indirectly, interested in an application to the Authority for a contract or proposed contract with the Authority, to declare the nature of his or her interest at the first meeting of the Authority at which it is practicable for him or her to do so.
(2) A member shall not vote in respect of any contract or proposed contract with the Authority in which he or she is in any way interested, whether directly or indirectly.