Revised Laws of Saint Lucia (2021)

20.   Declaration of interest and abstention from voting

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    (1)   A director who 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.

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    (2)   If a director declares an interest under subsection (1), the director shall leave the meeting on the matter coming up for discussion and shall not receive other communication on the matter.

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    (3)   A declaration under subsection (1) and the departure of a director from the meeting under subsection (2) shall be noted in the minutes of the meeting.

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    (4)   A director commits an act of misconduct if he or she —

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      (a)     contravenes subsection (1);

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      (b)     votes in respect of a matter before the Board in which he or she has an interest; or

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      €     seeks to influence the vote of another director in relation to a matter before the Board.

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    (5)   A person who contravenes subsection (1) commits an offence and is liable on summary conviction to a fine not exceeding $10,000 or to a term of imprisonment not exceeding 2 years or to both and to revocation of his or her appointment under section 13.