37.—(1) It shall be the duty of a person to whom this section applies to give to the Agency a declaration in the prescribed form, signed by him and containing particulars of every interest of his which is an interest to which this section applies and for so long as he continues to be a person to whom this section applies it shall be his duty where there is a change regarding any such interest or where he acquires any other interest to which this section applies, to give to the Agency a new declaration in the prescribed form.

(2) (a) This section applies to—

(i) the Director General or other director, and

(ii) an employee of the Agency or any other person whose services are availed of by the Agency and who is of a class, description or grade prescribed for the purposes of this section.

(b) This section applies to the following interests—

(i) any estate or interest which a person to whom this section applies has in any land or in any activity,

(ii) any business of dealing in or developing land, or any activity, in which such a person is engaged or employed and any such business carried on by a company or other body of which he, or any nominee of his, is a member,

(iii) any profession, business or occupation in which such a person is engaged, whether on his own behalf or otherwise, and which relates to dealing in or developing land or to an activity.

(3) A person to whom this section applies and who has an interest to which this section applies shall be regarded as complying with the requirements of subsection (1) if, and only if, he gives to the Agency a declaration mentioned in that subsection within the period of twenty-eight days beginning—

(a) in case the person is such a person on the commencement of this section, on such commencement,

(b) in case the person becomes such a person after the commencement of this section, on the day on which he becomes such a person,

(c) in case there is a change regarding an interest particulars of which are contained in a declaration already given by the person or where the person acquires any other interest to which this section applies, on the day on which the change occurs or the other such interest is acquired.

(4) For the purposes of this section, a person shall be regarded as having an estate or interest in land or an activity if he, or any nominee of his, is a member of a company or other body which has an estate or interest in the land or the activity.

(5) For the purposes of this section, a person shall not be regarded as having an interest to which this section applies if the interest is so remote or insignificant that it cannot reasonably be regarded as likely to influence a person in considering or discussing, or in voting on, any question with respect to any matter arising or coming before the Agency or in performing any function in relation to any such matter.

(6) Where a person to whom this section applies has an interest to which this section applies by reason only of the beneficial ownership of shares in a company or other body by him or by his nominee and the total nominal value of those shares does not exceed the lesser of—

(a) one thousand pounds, or

(b) one-hundredth part of the total nominal value of either the issued share capital of the company or body, or where that capital is issued in shares of more than one class, the issued share capital of the class or classes of shares in which he has an interest,

subsection (1) of this section shall not have effect in relation to that interest.

(7) The Agency shall for the purposes of this section keep a register (which register is in this section referred to as the register of interests) and shall enter therein the particulars contained in declarations given to the Agency pursuant to this section.

(8) The register of interests shall be available for inspection by any person at the Agency's headquarters during office hours and a copy of the register or any entry in the register may be obtained by any person on the payment to the Agency of such fee (if any) as the Agency shall fix not exceeding the reasonable cost of making the copy.

(9) Where a person ceases to be a person to whom this section applies, any particulars entered in the register of interests as a result of a declaration being given by the person to the Agency pursuant to this section shall be removed, as soon as may be after the expiration of the period of five years beginning on the day on which the person ceases to be such a person, from the said register by the Agency.

(10) Subject to subsection (11), a person who fails to comply with subsection (1) or who, when purporting to comply with the requirements of the said subsection (1), gives particulars which are false or which to his knowledge are misleading in a material respect, shall be guilty of an offence.

(11) In any proceedings for an offence under this section it shall be a defence for the defendant to prove that at the relevant time he believed, in good faith and upon reasonable grounds, that—

(a) the relevant particulars were true,

(b) there was no matter as regards which he was then required to make a declaration under subsection (1), or

(c) that the matter in relation to which the offence is alleged was not one as regards which he was so required to make such declaration.

(12) In this section “land” includes land covered by water.