(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.
(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.
(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.
(4) A director commits an act of misconduct if he or she —
(a) contravenes subsection (1);
(b) votes in respect of a matter before the Board in which he or she has an interest; or
€ seeks to influence the vote of another director in relation to a matter before the Board.
(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.