1. The Chairman of the Board and the Members thereof shall: a. Disclose in writing to the Authority, prior to assuming their duties, any Securities and Foreign Securities owned thereby and by their minor children under their guardianship, as well as their or their minor children’s shareholding in any Licensed Person, and any changes thereto during the term of their membership, within one week of becoming aware thereof. This shall also include disclosure of Securities and Foreign Securities known to be owned by the spouse of the Chairman of the Board or any member thereof. b. Comply with the Board’s resolutions concerning any dealings in Securities and Foreign Securities. c. Disclose any interests that may conflict with their membership on the Board upon appointment or upon the emergence of any conflict. In the event that any of them possesses a personal interest in any transaction or contract to which the Authority is a party, they shall declare such interest to the Board prior to discussion of the matter, withdraw from the meeting during deliberation of the transaction or contract, and refrain from participating in any vote thereon, in accordance with the code of conduct and governance controls issued by the Board. 2. The CEO and employees of the Executive Management shall: a. Immediately disclose to any entity designated by the Authority any material conflict of interest encountered in the course of performing their duties or functions; b. Abstain from participating in decision-making in respect of matters in which they have a conflict of interest. Failure to comply shall not render such decisions null or void.
Interpretation and application must be checked against the official text and current version.