# Welsh Development Agency Act 1975, Paragraph 15

Extent: E+W+S

(1) A member of the Agency or of any such committee who is in any way directly or indirectly interested in a contract made or proposed to be made by the Agency, or in any other matter whatsoever which falls to be considered by the Agency or by the committee in question, shall disclose the nature of his interest at a meeting of the Agency or the committee and the disclosure shall be recorded in the minutes of the meeting.
(2) The member shall not—
(a) in any case of any such contract, take part in any deliberation or decision with respect to the contract; and
(b) in the case of any other matter, take part in any deliberation or decision with respect to the matter if the Agency or the committee decide that the interest in question might prejudicially affect the member’s consideration of the matter.
(3) For the purposes of this paragraph, a notice given by a member at a meeting of the Agency or a committee to the effect that he is a member of a specified body corporate or firm and is to be regarded as interested in any contract which is made with the body corporate or firm after the date of the notice, and in any other matter whatsoever concerning the body corporate or firm which falls to be considered after that date, shall be a sufficient disclosure of his interest.
(4) A member need not attend in person at a meeting of the Agency or a committee in order to make a disclosure which he is required to make under this paragraph, if he takes reasonable steps to secure that the disclosure is made by a notice which is taken into consideration and read at such a meeting.

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Source: https://www.legislation.gov.uk/ukpga/1975/70/schedule/1/paragraph/15 (the official version)
Page: https://openlegislation.uk/welsh-development-agency-act-1975/schedule-1/paragraph-15
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.