(a)
| (i) | must, before he or she assumes office, declare any business, commercial or financial activities undertaken for financial gain that may raise a possible conflict of interest with the SETA in question; |
| (ii) | may not conduct business, directly or indirectly, with the SETA which constitutes a conflict of interest with the SETA; |
(b)
| (i) | may not have a conflict of interest with the SETA in question; |
| (ii) | may not have a direct or indirect financial, personal or other interest in any matter to be discussed at a meeting and which entails or may entail a conflict or possible conflict of interest with the SETA in question; |
| (iii) | must, before the meeting and in writing, inform the chairperson of that meeting of that conflict or possible conflict of interest. |
| (2) | The business referred to in subsection (1)(a) relates to conduct that is aimed at receiving any direct or indirect financial personal gain that does not form part of the employment relationship. |
(3)
| (a) | Any person may, in writing, inform the chairperson of a meeting, before the meeting, of a conflict or possible conflict of interest of a member contemplated in subsection (1 ) with the SETA in question of which such person may be aware. |
| (b) | A member referred to in paragraph (a) is obliged to recuse himself or herself from the meeting during the discussion of the matter and the voting thereon. |
| (4) | A committee or chamber of the Accounting Authority with delegated functions in terms of this Act may not take a decision on a matter considered by it if any member has a conflict of interest contemplated in this section. |
| (5) | A member of the Accounting Authority, or a member of a committee or chamber of the Accounting Authority contemplated in subsection (4), who contravenes section 11C(2) and (3) or this section may, after the Accounting Authority has followed a due process, be— |
| (a) | suspended from attending a meeting; or |
| (b) | disqualified as a member of the Accounting Authority or a member of a committee or chamber of the Accounting Authority, as the case may be. |
[Section 13A inserted by section 12 of Act No. 26 of 2011]
