Paragraph 14 Proceedings of the Commissioners and committees

(1)

A commissioner must declare any interest, direct or indirect, held—

(a)

in any contract or proposed contract to which the Commissioners are or would be a party or where a commissioner is a director of a company or member of a body with which the contract or proposed contract is made or proposed to be made;

(b)

in any other matter with which the Commissioners are concerned.

(2)

If a commissioner is present at a meeting of the Commissioners or of any committee of the Commissioners at which a contract or other matter in which that person has an interest is to be considered, that person must—

(a)

as soon as is practicable after the commencement of that meeting disclose their interest;

(b)

not vote on any question with respect to that contract or matter; and

(c)

withdraw from the meeting—

(i)

at any time if the commissioners present by resolution require that person to do so, and

(ii)

while a decision on that contract or matter is being made.

(3)

This paragraph does not apply to any interest—

(a)

which a commissioner has in respect of the payment to the Commissioners of ship, passenger and goods dues;

(b)

which arises in respect of the provision of services or facilities affecting the trading community in general;

(c)

which a commissioner has as an employee of a public utility undertaking or as a shareholder, not being a director of a company, unless that person possesses more than five per cent of the issued share capital of that company; or

(d)

which the commissioners present at the meeting by resolution declare to be too remote.