National Empowerment Fund Act, 1998 (Act No. 105 of 1998)14. Disclosure of conflicting interests |
| (1) | A trustee must not participate in the proceedings at any meeting of the Board if he or she or his or her family member or business partner is a director, trustee or business partner of, or has an interest in the business in question, or in relation to any matter before the Board which may preclude him or her from performing his or her other functions as a trustee in a fair, unbiased and proper manner. |
| (2) | If at any stage during the proceedings of the Board there is reason to believe that a trustee has an interest, that trustee must— |
(a) disclose fully the nature of his or her interest; and
(b) leave the meeting or hearing in question.
| (3) | The remaining trustees must discuss the matter and determine whether that trustee is to be precluded from participating in such proceedings. |
| (4) | The disclosure and the decision taken by the trustees regarding such determination must be recorded in the minutes of such proceedings. |