No. 4/2018 PtJBLIC ENTITIES CoRPORATE GovERNANCE Cap. 10:31 A. has acquired or holds a direct or indirect pecuniat)' interest in any matter that (being a board member) is under consideration by the board or that is or, to his or her knowledge, is likely to be the subjectmatter of a contract between the public entity and any other person; or B. owns any property or has a right in prope1ty or a direct or indirect pecuniary inter,~st in a company or association of persons which results in his or her private interests coming or appearing to come into conflict \Vith his or her functions as a board member or senior staff member of the public entity; or (b) for any other reason, the private interests of a board member or senior staff member of a public entity come into contlict with his or her functions as a board member or member of the entity's statl; the board member or senior staff member shall forthwith disclose the i~lct to the entity's board. (2) A member referred to in subsection ( 1) shall- (a) if he or she is a board member, take no patt in the consideration or discussion of, or vote on, any question before the board which relates to any interest, property or right referred to in that subsection; (b) if he or she is a senior staff member of a public entity, take no patt in the entity's dealings in relation to any matter requiring disclosure under that subsection, except on the written instmctions of the board of the entity concerned, given after the disclosure of the interest concemed. (3) No employee of a public entity shall be present when the entity's board discusses his or her conditions of service. (4) The board of every public entity shall request all senior staff members of the entity to sign, as soon as possible after their first appointment, a document stating that they are aware of and will abide by their obligations under this section. (5) The chief executive officer of every public entity shall request all members of the entity's board to sign, as soon as possible after their first appointment to the board, a document stating that they are aware of and will abide by their obligations under this section. (6) Until- (a) a senior statT member of a public entity who has been requested to sign the document referred to in subsection (4) has signed the document; or (b) a board member of a public entity who has been requested to sign the document referred to in subsection (5) has signed the document; he or she shall not(c) take patt in any business of the board, in the case of a board member; or (d) in the case of a board member, receive any remuneration or allowance in respect of his or her membership of the board, or, in the case of senior stan· member, receive any remuneration or allowance in respect of his or her employment by the entity. (7) Any person who contravenes subsection (1), (2) or (3) shall be guilty of an offence and liable to a fine not exceeding level four or to imprisonment for a period not exceeding three months or to both such fine and such imprisonment. 102