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(1) A member of the Board or any committee established under this Act who has an interest in a matter for consideration

(a) shall disclose the nature of the interest and the disclosure shall form part of the record of the consideration of the matter; and

(b) Shall not be present at or participate in the deliberations of the Board or committee in respect of that matter.

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

(a) fails to disclose that interest, or

(b) is present at or participates in the deliberations of the matter.