Section 8

If any member of the Board has any beneficial interest in any land or building situate in an area comprised in any project of the Board, or has any beneficial interest in any company or undertaking with which the Board proposes to make any contract, or has an interest in any such contract, he shall forthwith disclose to the Board the fact and nature of his interest, and the disclosure shall be recorded in the minutes of the Board, and thereafter that member shall take no part in any deliberation or decision of the Board relating to that project or contract.