Cap. 10:31 PtJnuc El'fUITES CoRPORATE GovERNANCE No. 4/2018 PART VII CmmucT OF BvsrNESs BY BoARDs OF 33 Punuc EMtTrrEs Meetings of boards of public entities (1) The chairperson of the board of every public entity shall ensure that the board meets at least once every three months. (2) Notwithstanding anything to the contrary in the enabling instrument concemed, but subject to the Constitution, a board of a public entity may meet without a quorum for ninety days after the number of members appointed to it ceased to constitute a quomm of the board: Provided that any decisions reached by the board while its membership does not constitute a quorum shall cease to have effect after the ninety-day period unless they have been ratified by a meeting of the board at which a quorum is present. (3) At least once a year, the board of every public entity shall convene an annual general meeting, that is to say, a meeting to which- (a) representatives of the Unit; and (b) the Accountant-General; and (c) representatives of the line .Ministry; and (d) representatives of any minority shareholders in the entity concerned; and (e) the Auditor-General; and (1) such other persons as may be prescribed; are invited to attend and discuss the entity's operations and conduct during the previous financial year and its plans for the next financial year, and any other matters of mutual interest. (4)At least twice a year, every line Minister shall meet the board of each public entity for which he or she is responsible, for the purpose of discussing the entity's conduct and plans, the board's compliance with its strategic plan, and any other matters of mutual interest. (5) Minutes shall be kept in accordance with sectiou35 of every meeting under subsection (3) or (4) as if the meeting was a meeting of the board of the entity. 34 Conflicts of interest on part of board members and staff of public entities (1) If- (a) a member of a board of a public entity or senior staff member of a public entity(i) being a board member, knowingly acquires or holds a direct or indirect pecuniary interest in any matter that is under consideration by the board; or (ii) owns any propetty or has a right in property or a direct or indirect pecuniary interest in a company or association of persons which results in his or her private interests coming or appearing to come into conflict with his or her functions as a board member or senior stati member of the public entity; or (iii) knowingly acquires or holds a direct or indirect pecuniary interest in any matter that is or, to his or her knowledge, is likely to be the subject-matter of a contract between the public entity and any other person; or (iv) knows or has reason to believe that any of his or her associates101