Members not to hold interests in matters relating to the institution
10.—(1) Except with the prior approval in writing of the Welsh Ministers, no member may take or hold any interest in any property held or used for the purpose of the institution.
(2) A member to whom sub-paragraph (3) applies must—
(a)disclose to the Corporation or any committee of the Corporation the nature and extent of the interest;
(b)if present at a meeting of the Corporation or any committee of the Corporation at which such supply, contract or other matter as is mentioned in sub-paragraph (3) is considered, not take part in the consideration or vote on any question with respect to it and not be counted in the quorum present at the meeting in relation to a resolution on which that member is not entitled to vote; and
(c)withdraw, if present at a meeting of the Corporation, or any committee of the Corporation, at which such supply, contract or other matter as is mentioned in sub-paragraph (3) is considered, where required to do so by a majority of the members of the Corporation present at the meeting of the Corporation or by a majority of the committee members present at the committee meeting, as the case may be.
(3) This paragraph applies to a member who—
(a)has any financial interest in—
(i)the supply of work to the institution, or the supply of goods for the purposes of the institution;
(ii)any contract or proposed contract concerning the institution; or
(iii)any other matter relating to the institution, or
(b)has any other interest of a type specified by the Corporation in any matter relating to the institution.
(4) Where the matter under consideration by the Corporation or any of its committees relates to the pay and conditions of all staff, or all staff in a particular class, a staff member—
(a)need not disclose a financial interest; and
(b)may take part in the consideration of the matter, vote on any question with respect to it and count towards the quorum present at that meeting, provided that in so doing, the staff member acts in the best interests of the Corporation as a whole and does not seek to represent the interests of any other person or body; but
(c)must withdraw from the meeting if the matter is under negotiation with staff and the staff member is representing any of the staff concerned in those negotiations.
(5) The Clerk must maintain a register of interests of members of the Corporation which are disclosed and must make that register available during normal office hours at the institution to any person wishing to inspect it.
(6) This paragraph does not prevent the members of the Corporation considering and voting upon proposals for the Corporation to insure the members of the Corporation against liabilities incurred by them arising out of their offices or the Corporation obtaining such insurance and paying the premiums.