If a member of the Board has any pecuniary interest, direct or indirect, in any contract or proposed contract or other matter, and is present at a meeting of the Board at which the matter is the subject of consideration, he shall disclose the fact, and he shall not take part in consideration or discussion of, or vote on, any question with respect to the matter, but he may, nevertheless, be taken into account for the purpose of constituting a quorum of the Board for any such consideration of, or decision on, the matter.

A general notice, given in writing by a member of the Board to the officer designated by the Board to receive it, stating that he is a member of or in the employment of a specified company or other body, or that he is a partner or in the employment of a specified person, shall, unless and until the notice is withdrawn, be deemed to be a sufficient disclosure of his interest in any matter relating to that company, body or person which may be the subject of consideration after the date of the notice.

Any disclosure made under sub-paragraph (1) of this paragraph shall be recorded in the minutes of the meeting at which it is made; and any notice given under sub-paragraph (2) thereof shall be recorded in a book to be kept for the purpose.