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CS Professional · Labour Laws and Practice · Social Security Legislations

Ms. Iyer, a member of a Social Security Organisation, is a director of a company that has a direct pecuniary interest in a matter on the agenda. What must she do under the Code?

She must disclose the nature of her interest as soon as possible, have it recorded in the proceedings, and then refrain from taking part in any proceeding or decision on that matter. Resignation is not required by the Code.

  1. ADisclose the interest, have it recorded in the proceedings, and not take part in proceedings or decisions on that matterCorrect
  2. BResign immediately from the organisation
  3. CVote but have her vote recorded separately
  4. DDisclose the interest but she may still take part in the decision

Explanation

The member must disclose the nature of the interest as soon as possible after it comes to her knowledge, the disclosure is recorded in the proceedings, and she shall not take part in any proceeding or decision on that matter. Resignation is not required.

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