Section 13
Director of Board or member of committee thereof not to participate in meetings in certain cases.
The National Housing Bank Act, 1987
About this Act
An Act to establish a bank to be known as the National Housing Bank to operate as a principal agency to promote housing finance institutions both at local and regional levels and to provide financial and other support to such institutions and for matters connected therewith or incidental thereto.
Any director of the Board or any member of a committee, who has any direct or
indirect pecuniary interest in any matter coming up for consideration at a meeting of the Board or a
committee thereof, shall, as soon as possible after relevant circumstances have come to his
knowledge, disclose the nature of his interest at such meeting and the disclosure shall be recorded in
the minutes of the Board, or the committee, as the case may be, and the director or member shall not
take any part in any deliberation or decision of the Board or the committee with respect to that matter.