What is Pecuniary Interest?
A member of council has a pecuniary interest in a matter if: • the member or someone in the members family has a controlling interest in or is a director or senior officer of a corporation that could financially profit or be adversely affected by a decision of council, a council committee or a controlled corporation or; • the member or a closely connected person could make a financial profit from or be adversely affected by a decision of council, a council committee or a controlled corporation. Definitions • closely connected person means the agent, business partner, family or employer of a member of council. • controlling interest means an interest a person has (direct or indirect) if the person owns or has control of more than 25% of the voting rights of a corporation. • senior officer means the chairperson or vice-chairperson of a board of directors; the president, vice-president, secretary, treasurer or general manager of a corporation. • family means the spouse, parent or child of
