Industrial Development (Science Foundation Ireland) Act 2003

Disclosure of interests.

16.—(1) Where the Director General, a member of the Board, a member of the staff of the Foundation, a member of a committee established under section 15 , or a consultant, adviser or other person engaged by the Foundation, has a pecuniary interest or other beneficial interest in, or material to, any matter which falls to be considered by the Board, or a committee established under this Act, he or she shall—

(a) disclose to the Board or committee, as the case may be, the nature of his or her interest in advance of any consideration of the matter,

(b) neither influence nor seek to influence a decision in relation to the matter,

(c) take no part in any consideration of the matter,

(d) if he or she is the Director General, a member of the Board, the staff of the Foundation or a member of a committee established under section 15 , withdraw from the meeting for so long as the matter is being discussed or considered and shall not vote or otherwise act as such Director General or member in relation to the matter.

(2) For the purposes of this section, but without prejudice to the generality of subsection (1), a person shall be regarded as having a beneficial interest if—

(a) he or she or any connected relative or nominee of his or hers or any connected relative is a member of a company or any other body which has a beneficial interest in, or material to, a matter referred to in that subsection,

(b) he or she or any connected relative is in partnership with or is in the employment of a person who has a beneficial interest in, or material to, such a matter,

(c) he or she or any connected relative is a party to any arrangement or agreement (whether or not enforceable) concerning land to which such a matter relates, or

(d) any connected relative has a beneficial interest in, or material to, such a matter.

(3) For the purposes of this section a person shall not be regarded as having a beneficial interest in, or material to, any matter by reason only of an interest of that person or of any company or body or person mentioned in subsection (2) which is so remote or insignificant that it cannot reasonably be regarded as likely to influence that person in considering, discussing or in voting on, any question with respect to the matter, or in performing any function in relation to that matter.

(4) Where a question arises as to whether or not a course of conduct, if pursued by a person to whom this section applies, would be a failure by him or her to comply with the requirements of subsection (1), that question shall be determined by the Board and particulars of the determination by the Board shall be recorded in the minutes of the meeting concerned.

(5) Where a disclosure is made to the Board or a committee pursuant to subsection (1), particulars of the disclosure shall be recorded in the minutes of the meeting concerned, and for so long as the matter to which the disclosure relates is being dealt with by the meeting, the person by whom the disclosure is made shall not be counted in the quorum for the meeting.

(6) Where a person referred to in this section fails to make a disclosure in accordance with this section, the Board shall decide the appropriate action (including removal from office or termination of contract) to be taken.

(7) In this section “connected relative” means, in relation to a person to whom this section applies, the parent, spouse, partner, brother, sister or child of that person.