| (1) | A director shall, on appointment, submit to the Bank a written declaration whether that director’s family has any financial or other direct or indirect interest that— |
| (a) | may constitute a conflict of interest in respect of his or her functions as a director of the Board; or |
| (b) | could reasonably be expected to compromise the Board in the performance of its functions. |
| (2) | If a director acquires an interest contemplated in sub-regulation (1), he or she shall immediately in writing declare that fact to the Board. |
| (3) | A director may not be present at, or take part in, the discussion of, or the taking of a decision on, any matter before the Board in which that director has an interest contemplated in sub-regulation (1). |
| (4) | A director may not use his or her position or confidential information obtained as a director, for personal gain or to improperly benefit another person. |
| (5) | The Bank shall keep a register of the interests of directors declared in terms of sub-regulations (1) and (2) and shall update that register within five working days after receipt of a declaration. |
| (6) | For purposes of subregulation (1), “family” means an individual related to another individual if they— |
| (a) | are married, or live together in a relationship similar to a marriage; or |
| (b) | are separated by no more than two degrees of natural or adopted consanguinity or affinity. |
[Regulation 104 substituted by section 2 of Notice No. 6908, GG53783, dated 5 December 2025]
