Restriction on power of Trustees to vote or discuss matters in which they are interested

(1) No trustee shall vote on or take part in the discussion of any matter coming up for consideration at a meeting of the Board or of any Committee if it is one in which the Trustee has any direct or indirect pecuniary interest by himself or along with his partner, if any, or in which he is interested professionally on behalf of a client or as agent for, any person other than Government, or a local authority. (2) If any objection is raised at a meeting that a Trustee has in any such matter an interest of the nature specified in sub-section (1), the objection shall be considered and decided by the other Trustees of the Board or the Committee, as the case may be, in such manner as may be prescribed and the decision of such Trustees shall be final. (3) If at any time it is brought to the notice of the Chairman of the Board that a Trustee had voted or taken part in the discussions at a meeting in contravention of the provisions of sub-section (1) the matter shall, unless bona fide rights have accrued to third parties in pursuance of the resolution passed at the meeting, be inquired into and decided in the manner prescribed, and pending such decision it shall be the duty of the Board or the Standing Committee, as the case may be, not to give effect to such resolution. (4) A decision under sub-section (3) shall be final and if as a result of the enquiry the Trustee is found to have voted or taken part in the proceedings in contravention of the provisions of sub-section (1) the resolution in question shall stand amended.