Brunei Darussalam Central Bank Order, 2010 (Formerly Known as Autoriti Monetari Brunei Darussalam Order) · s 18

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s 18Director's interest in subject-matter of decision or contract to be made known

(1)

A director who is, directly or indirectly, interested in the subject-matter of a decision or contract made, or proposed to be made, by the Authority shall disclose the nature of his interest at the first meeting of the board at which he is present after the relevant facts have come to his knowledge.

5012

{2)

A disclosure under subsection (1) shall be recorded in the minutes of the board and, after the disclosure, the director-

(a} shall not take part in any deliberation or decision of the board with respect to that decision or contract; and

(b} shall be disregarded for the purpose of constituting a quorum of the board for any such decision.

{3)

No act or proceeding of the board shall be questioned on the ground that a director has contravened this section.