5(1)A member of the Authority who is in any way directly or indirectly interested in a contract made or proposed to be made by the Authority shall, as soon as possible after the relevant circumstances have come to his knowledge, disclose the nature of his interest at a meeting of the Authority.U.K.
(2)Any disclosure made under sub-paragraph (1) of this paragraph shall be recorded in the minutes of the Authority and the member—
(a)shall not take part after the disclosure in any deliberation or decision of the Authority with respect to that contract; and
(b)shall be disregarded for the purpose of constituting a quorum of the Authority for any such deliberation or decision.