with this section and the member has complied with section 81(1) or the member's interest is not required to be disclosed because of subsection (3)— (a) the contract is not liable to be avoided by the association on any ground arising from the fiduciary relationship between the member and the association; and (b) the member is not liable to account for profits derived from the contract. (5) A disclosure of a material personal interest required by subsection (1) or (2) must give details of— (a) the nature and extent of the interest; and (b) the relation of the interest to the activities of the incorporated association. (6) The details referred to in subsection (5) must be recorded in the minutes of the committee meeting at which the material personal interest is disclosed. 81 Matter on which committee member has material personal interest (1) A member of the committee of an incorporated association who has a material personal interest in a matter being considered at a committee meeting must not— (a) be present while the matter is being considered at the meeting; or (b) vote on the matter. Penalty: 10 penalty units.
with this section and the member has complied with section 81(1) or the member's interest is not required to be disclosed because of subsection (3)— (a) the contract is not liable to be avoided by the association on any ground arising from the fiduciary relationship between the member and the association; and (b) the member is not liable to account for profits derived from the contract. (5) A disclosure of a material personal interest required by subsection (1) or (2) must give details of— (a) the nature and extent of the interest; and (b) the relation of the interest to the activities of the incorporated association. (6) The details referred to in subsection (5) must be recorded in the minutes of the committee meeting at which the material personal interest is disclosed. 81 Matter on which committee member has material personal interest (1) A member of the committee of an incorporated association who has a material personal interest in a matter being considered at a committee meeting must not— (a) be present while the matter is being considered at the meeting; or (b) vote on the matter. Penalty: 10 penalty units.
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