50. (1) Where a matter is to be decided by the Board (M) at a meeting, any member of the Board (M) present at the meeting who has an interest in the matter, otherwise than as such a member, shall—

(a) at the meeting, in advance of any consideration of the matter, disclose to the Board (M) the fact of the interest and the nature of the interest,

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

(c) absent himself or herself from any meeting or that part of the meeting during which the matter is discussed,

(d) take no part in any deliberation of the Board (M) or committee of the Board (M) relating to the matter, and

(e) not vote on a decision relating to the matter.

(2) Where a member discloses an interest in a matter under subsection (1) —

(a) the disclosure shall be recorded in the minutes of the meeting, and

(b) for so long as the matter is being dealt with by the meeting, the member shall not be counted in the quorum for the meeting unless the Board (M) or committee of the Board (M) otherwise determines.

(3) Where, at a meeting of the Board (M) or a committee of the Board (M), a question arises as to whether or not a course of conduct, if pursued by a member of the Board (M) or committee of the Board (M), as the case may be, would be a failure by the member to comply with the requirements of subsection (1) —

(a) the question may be determined by the chairperson of the Board (M) or of the committee of the Board (M), as the case may be, whose decision shall be final, and

(b) if the question is so determined, particulars of the determination shall be recorded in the minutes of the meeting concerned.

(4) Where satisfied that a member of the Board (M) or a committee of the Board (M) has contravened subsection (1), the Minister may, if he or she thinks fit to do so, remove that member from office or take any other action that the Minister considers appropriate.

(5) A person who is removed from office under subsection (4) is disqualified from membership of the Board (M) or of a committee of the Board (M).