(1) A member of the Council who has an interest in a matter for consideration at a meeting of the Council shall disclose the nature of the interest and the disclosure shall form part of the record of the consideration of the matter, recuse himself or herself from the meeting, or not participate in the deliberations of the Council in respect of that matter.

(2) A member ceases to be a member of the Council, if that member has an interest in a matter before the Council and

(a) fails to disclose that interest,

(b) fails to recuse himself or herself from the meeting at which the matter is being considered, or