In the Schedule (Withdrawal from meetings)—
(a) for sub-paragraph (1) of paragraph 2 there shall be substituted the following sub-paragraph—
(1) Subject to sub-paragraphs (4) and (5), if a person has any pecuniary interest, direct or indirect, in any contract, proposed contract or other matter and is present at a meeting of the governing body at which the contract or other matter is the subject of consideration, he shall at the meeting and as soon as practicable after its commencement disclose the fact and withdraw from the meeting during the consideration or discussion of the contract or matter and he shall not vote on any question with respect to the contract or matter.
(b) after sub-paragraph (4) of paragraph 2 there shall be inserted the following sub-paragraph—
(5) No provision in this paragraph shall prevent members of the governing body considering and voting upon proposals for the governing body to take out insurance protecting its members against liabilities incurred by them arising out of their office or the governing body obtaining such insurance and paying the premiums.
(c) in paragraph 3, for sub-paragraph (2) there shall be substituted the following sub-paragraph—
(2) The person first mentioned in sub-paragraph (1) shall withdraw from the meeting during the consideration or discussion of the matter in question and shall not vote on any question with respect to that matter.
(d) in paragraph 4, for sub-paragraph (2) there shall be substituted thhe following sub-paragraph—
(2) The person first mentioned in sub-paragraph (1) shall withdraw from the meeting during the consideration or discussion of the matter in question and shall not vote on any question with respect to that matter.
(e) in paragraph 7, for the words from “save and so far as” to the end of the paragraph there shall be substituted the words “shall withdraw from the meeting during such consideration or discussion.”.