Paragraph 1 Pecuniary interestsI1

England and Wales

(1)

For the purposes of regulation 16(b), a pecuniary interest includes an interest in a contract or a proposed contract where—

(a)

a relevant person was nominated or appointed to office by a person with whom the contract was made or is proposed to be made;

(b)

a relevant person is a business partner of a person with whom the contract was made; or

(c)

a relative of a relevant person (including the relevant person’s spouse, civil partner or someone living with the relevant person as if the other person were the relevant person’s spouse or civil partner), to the knowledge of the relevant person had, or would be treated as having, such an interest.

(2)

For the purposes of F1regulation 16(2), a relevant person will not be treated as having a pecuniary interest in any matter—

(a)

provided that the value of the relevant person’s pecuniary interest is no greater than that of the pecuniary interest commonly held by those paid to work at the school;

(b)

by reason only of the fact that the relevant person was nominated or appointed to office by, is a member of, or is employed by, any public authority; or

(c)

by reason only of the fact that the relevant person is a member of a corporation or other body if the relevant person has no financial interests in any securities of that corporation or other body.

(3)

For the purposes of this paragraph “public authority” includes any person who performs functions which are of a public nature.

(4)

Governors are not, by reason of their pecuniary interest in the matter, prevented from considering and voting upon proposals for the governing body to take out insurance protecting their members against liabilities incurred by them arising out of their office and the governing body is not, by reason of the pecuniary interest of their members, prevented from obtaining such insurance and paying the premiums.

Annotations

Textual amendments

F1: Words in Sch. 1 para. 1(2) substituted (1.9.2014) by The School Governance (Constitution and Federations) (England) (Amendment) Regulations 2014 (S.I. 2014/1257), regs. 1, 4(6)

Commencement

I1: Sch. 1 para. 1 in force at 1.9.2013, see reg. 1(1)

Notes on Schedule 1

Modifications

C1: Sch. 1 applied (with modifications) (1.9.2013) by S.I. 2007/2978, reg. 21, Sch. 3 (as substituted by The School Governance (Roles, Procedures and Allowances) (England) Regulations 2013 (S.I. 2013/1624), reg. 1(1), Sch. 3 para. 1(2)(3))