1.—(1) For the purposes of regulation 9, a pecuniary interest in a contract, proposed contract or other matter includes a case where—
(a)a relevant person was nominated or appointed to office as a member of a collaborating governing body by a person with whom the contract was made or is proposed to be made;
(b)a relevant person is a partner of a person, or is in the employment of a person, with whom the contract was made or is proposed to be made; or
(c)a relative of a relevant person (including his spouse or some one living with that person as if he or she were that person’s spouse), to the knowledge of that person has, or would be treated as having, such an interest.
(2) For the purposes of regulation 9, a relevant person shall not be treated as having a pecuniary interest in any matter by reason only of—
(a)if he is paid to work at a school, having an interest in the matter that is no greater than the interest of the generality of those paid to work at the school;
(b)his nomination or appointment by, his membership of, or his employment by, any public body; or
(c)his membership of a corporation or other body, if he has no significant financial interest in any securities of that corporation or other body.
(3) Members of the joint committee are not, by reason of their pecuniary interest in the matter, prevented from considering and voting upon proposals for one or more of the collaborating governing bodies to take out insurance protecting its members against liabilities incurred by them arising out of their office and a collaborating governing body will not, by reason of the pecuniary interest of its members, be prevented from obtaining such insurance and paying the premiums.