National Pensions Reserve Fund Act, 2000
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Disclosure of interests. |
12.—(1) Where a commissioner or a member of the staff of the Manager or a member of a committee has a pecuniary interest or other beneficial interest in, and material to, any matter which falls to be considered by the Commission, the Manager or a committee, he or she shall— | |
(a) disclose to the Commission or, as the case may be, the Manager or the committee the nature of his or her interest in advance of any consideration of the matter, | ||
(b) neither influence nor seek to influence a decision to be made in relation to the matter, | ||
(c) take no part in any consideration of the matter, and | ||
where relevant— | ||
(d) absent himself or herself from the meeting or that part of the meeting during which the matter is discussed, and | ||
(e) not vote on a decision relating to the matter. | ||
(2) Where an interest is disclosed pursuant to this section, the disclosure shall, where relevant, be recorded in the minutes of the meeting of the Commission or the committee concerned, or otherwise duly recorded and the Commission may, at its discretion, refer to the disclosure in its report to the Minister under section 27 . | ||
(3) Where at a meeting of the Commission or a committee a question arises as to whether or not a course of conduct, if pursued by a person, would constitute a failure by him or her to comply with the requirements of subsection (1), the question may be determined by the chairperson of the meeting, whose decision shall be final, and where such a question is so determined, particulars of the determination shall be recorded in the minutes of the meeting. | ||
(4) Where the Minister is satisfied, on being informed by the Commission, that a commissioner has contravened subsection (1), the Minister may, if he or she thinks fit, remove that commissioner from office. | ||
(5) Where the Manager is satisfied that a member of the staff of the Manager has contravened subsection (1), the Manager shall decide the appropriate action (including dismissal) to be taken. | ||
(6) Where the Commission is satisfied that a member of a committee has contravened subsection (1), the Commission may, if it thinks fit, remove that member from the committee. | ||
(7) The Commission shall issue and publish guidelines as to that which constitutes an interest for the purpose of this section. |