Companies (Auditing and Accounting) Act 2003
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Disclosure of interests by staff. |
19.—(1) A member of the staff of the Supervisory Authority who, otherwise than in his or her capacity as such a member, has a material interest in a specified matter, as defined in section 18 (1), shall— | |
(a) disclose to the Authority the fact of the interest and its nature, | ||
(b) take no part in the negotiation of the arrangement, contract or other agreement concerned or in any deliberation by the Authority or members of its staff relating to that matter, | ||
(c) refrain from making any recommendation relating to the matter, and | ||
(d) neither influence nor seek to influence a decision to be made in relation to the matter. | ||
(2) Subsection (1) does not apply to contracts or proposed contracts of employment of members of the staff of the Supervisory Authority with the Authority. | ||
(3) Where a person contravenes this section, the Supervisory Authority may make such alterations to the person's terms and conditions of employment as it considers appropriate or terminate the person's contract of employment. |