Section 8

If a director of the Board has directly or indirectly an interest in any contract, proposed contract, or other matter and is present at a meeting of the Board, or any committee thereof, at which the contract, proposed contract or other matter is the subject of consideration, he shall, at the meeting and as soon as practicable after the commencement thereof, disclose the fact, and shall not thereafter be present during the consideration or discussion of, and shall not vote on any question with respect to, the contract, proposed contract or other matter.

Subsection (1) shall also apply to any member of a committee appointed in accordance with section 9(1) when such director is present at a meeting of any committee.