Pecuniary Interest
DECLARATION OF PECUNIARY INTEREST RE: COMMITTEE MEMBERS
What is a Pecuniary Interest?
A pecuniary interest is the opportunity, directly or indirectly, to profit or share in any profit derived from a transaction.
According to Tazmania’s information Sheet 2008, you have a pecuniary interest when, if a matter before council, or any other committee, is decided in a particular way you will gain, lose or save money, gain a financial advantage, or suffer a financial disadvantage; could be expected to gain, lose or save money, gain a financial advantage, or suffer a financial disadvantage; or are reasonably likely to gain or lose money, gain a financial advantage, or suffer a financial disadvantage. Examples of “pecuniary interests” include: * increased or decreased sales or profits for a business - or something that might lead to this, such as a decrease in competition or an increase in the number of customers * employment benefits (offers of paid employment, increases in salary, commissions, bonus payments, promotions) * provision of labour or services * loan of a vehicle * increased or decreased value of a property * free advertising.
You may also have a pecuniary interest because a “close associate” has a pecuniary interest in the matter before council or a council committee.
A “close associate” may mean: * a company or incorporated association * club of which you are a director or a member of the governing body (e.g. board member, secretary, president, treasurer) * a company in which you are a shareholder a beneficiary of a trust of which you are a trustee * your business partner * your employer * your employees * a person from whom you have received, or might receive in the future, a fee, commission, or other reward for providing professional or other services * immediate family members, including spouse or partner, parents, children, brothers and sisters, and your spouse’s or partner’s parents,
What is a Pecuniary Interest?
A pecuniary interest is the opportunity, directly or indirectly, to profit or share in any profit derived from a transaction.
According to Tazmania’s information Sheet 2008, you have a pecuniary interest when, if a matter before council, or any other committee, is decided in a particular way you will gain, lose or save money, gain a financial advantage, or suffer a financial disadvantage; could be expected to gain, lose or save money, gain a financial advantage, or suffer a financial disadvantage; or are reasonably likely to gain or lose money, gain a financial advantage, or suffer a financial disadvantage. Examples of “pecuniary interests” include: * increased or decreased sales or profits for a business - or something that might lead to this, such as a decrease in competition or an increase in the number of customers * employment benefits (offers of paid employment, increases in salary, commissions, bonus payments, promotions) * provision of labour or services * loan of a vehicle * increased or decreased value of a property * free advertising.
You may also have a pecuniary interest because a “close associate” has a pecuniary interest in the matter before council or a council committee.
A “close associate” may mean: * a company or incorporated association * club of which you are a director or a member of the governing body (e.g. board member, secretary, president, treasurer) * a company in which you are a shareholder a beneficiary of a trust of which you are a trustee * your business partner * your employer * your employees * a person from whom you have received, or might receive in the future, a fee, commission, or other reward for providing professional or other services * immediate family members, including spouse or partner, parents, children, brothers and sisters, and your spouse’s or partner’s parents,