(1) A member of the Board shall disclose in writing any personal interests or otherwise that the member has in the activities or practices regulated by the Corporation.

(2) A member of the Board 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 or participate in the deliberations of the Board in respect of that matter.

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

(a) fails to disclose that interest; or

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