The Financial Services Commission Act, 2008 provides that a director with any direct or indirect personal, professional, business or pecuniary interest in matters for consideration by the FSC’s Board must on every occasion the matter comes before the Commission, to as soon as reasonably practicable, provide a written declaration of interest for approval by the Board and submission to the Chairman.

A director declaring his interest shall withdraw from any meetings where the matter is considered by the Board, and is prohibited from expressing any view or voting on the matter.

However, the Chairman, in certain circumstances, and the Board may allow the director having  an interest to be considered by the Board, to engage in the above activities.