Paragraph 17

(1)

If a Trustee has any interest, direct or indirect–

(a)

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

(b)

in any other matter with which the Trustees are concerned –

he shall declare that interest.

(2)

If a Trustee is present at a meeting of the Trustees or of any committee of the Trustees at which a contract or any other matter in which he has a interest is to be considered he shall–

(a)

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

(b)

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

(c)

withdraw from the meeting–

(i)

at any time if the Trustees present by resolution require him so to do; and

(ii)

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

(3)

This paragraph shall not apply to any interest–

(a)

which a Trustee has in respect of the payment to the Trustees of harbour dues;

(b)

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

(c)

which a Trustee has as an employee of a public utility undertaking or as a shareholder, not being a director of a company, unless he possesses more than 5 per cent of the issued share capital of that company; or

(d)

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