(1) A member of the
management committee of an incorporated association who has a material
personal interest in a matter being considered at a meeting of the management
committee must not —
(a) be
present while the matter is being considered at the meeting; or
(b) vote
on the matter.
Penalty: a fine of $10 000.
(2) Subsection (1)
does not apply in respect of a material personal interest —
(a) that
exists only because the member belongs to a class of person for whose benefit
the association is established; or
(b) that
the member has in common with all, or a substantial proportion of, the members
of the association.
(3) If there are not
enough management committee members to form a quorum to consider a matter
because of subsection (1) —
(a) one
or more committee members (including those who have a material personal
interest in the matter) may call a general meeting; and
(b) the
general meeting may pass a resolution to deal with the matter.