Section 19Part 3 — Offences
Conflicts of interests
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Where a government entity proposes to deal with a company, partnership or other undertaking in which —
a public officer of the entity;
a member of the Cayman Islands Parliament; or
a member of the family, or an associate, of any person specified in paragraphs (a) or (b),
has a direct, indirect or beneficial interest in such company, partnership or undertaking; or
any person specified in paragraphs (a), (b) or (c) holds more than ten per cent of the total issued share capital or of the total equity participation in such company, partnership or other undertaking,
the public officer or the member of the Cayman Islands Parliament shall forthwith disclose, in writing, to that government entity, the nature of such interest.
Where in relation to a government entity —
a public officer of the entity;
a member of the Cayman Islands Parliament; or
a member of the family, or an associate, of either the public officer or the member of the Cayman Islands Parliament,
has a personal interest in a decision which the government entity is to take, that public officer or member of the Cayman Islands Parliament shall forthwith disclose, in writing, to the government entity, the nature of that personal interest.
A public officer or member of the Cayman Islands Parliament who fails to disclose an interest in accordance with subsection (1) or (2) and who votes or otherwise takes part in proceedings or decisions of the government entity relating to such interest commits an offence and is liable on conviction on indictment to imprisonment for a term of five years.