15. INTERESTS OF DIRECTORS
15.1 Directors duties
All Directors must act in the best interests of the Company as a whole and must not represent or advocate for any of their sponsors’ positions in discussions on issues considered by the Board.
15.2 Disclosure of interests
If a Director has a material personal interest in a matter that relates to the affairs of the Company and
(a) the Director discloses the nature and extent of the interests and its relation to the affairs of the Company at a meeting of the Directors in accordance with the Corporations Act; or
(b) the interest is one that does not need to be disclosed, then
(i) the Director may vote on matters that relate to the interest;
(ii) any transaction that relates to the interest may proceed;
(iii) the Director may retain benefits under the transaction even though the Director has the interest; and
(iv) the Company cannot avoid the transaction merely because of the existence of the interest.
15.3 Prior disclosure
If disclosure is required in accordance with the Corporations Act, clauses 15.2(b)(iii) and 15.2(b)(iv) apply only if the disclosure is made before the transaction is entered into.
