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Contracts.
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12.—No member of the Committee shall be disqualified by his office from entering into any contract with the Committee or from being concerned or interested in any contract under the Committee nor shall any contract or arrangement entered into by or on behalf of the Committee in which any member thereof shall be in any way concerned or interested be avoided, nor shall any person so contracting or being so concerned or interested be disqualified from being chosen or continuing or acting as a member of the Committee or be liable to account to the Committee for any profit realised by any such contract or arrangement by reason of holding that office or of the fiduciary relation thereby established provided that the nature of his interest is disclosed at the meeting of the Committee at which the contract or arrangement is determined on, if his interest then exists or in any other case at the first meeting of the Committee after the acquisition of his interest, but a member of the Committee may not as such member vote in respect of any such contract or arrangement in which he is so concerned or interested as aforesaid. A general notice that a member of the Committee is a member of a specified firm or Company and is to be regarded as interested in any subsequent transaction with such firm or company shall, if recorded in the Minutes of the Committee, be sufficient disclosure under this section, and after such general notice it shall not be necessaary to give any special notice relating to any particular transaction with such firm or company.
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