29.     Competition

            (1) In carrying out its functions and exercising its powers under this Act, the Council shall take into account—

     (a)     whether the conditions for effective competition exist in the market;

     (b)     whether any act by a publisher is likely to cause the lessening of competition in the market; and

     (c)     whether any act by a publisher is in contravention of the applicable laws relating to competition issues.

            (2) Notwithstanding the provisions of sections 9 (2) and 9 (3) (e), the Council shall, in addition, refer all issues relating to competition which may arise in the course of the discharge of its functions to the appropriate authority established to deal with competition issues.

[Ch6109s30]30.     Disclosure of interest

            (1) A member or associate member who has an interest in a contract proposed to be made with the Council or in a matter for discussion by the Council shall disclose the nature of that interest to the Council and shall, unless the meeting otherwise directs, be disqualified from participating in the deliberations on that contract or matter and from voting on a decision on that contract or matter.

            (2) Where a member or associate member fails to disclose an interest under subsection (1), he or she shall cease to be a member of the Council in accordance with section 8.

            (3) Any deliberations or decisions undertaken by the Council involving a member or associate member who fails to disclose an interest under subsection (1), shall be void.

[Ch6109s31]31.     Accounts to be kept

            (1) The treasurer of the Executive Committee under section 18 (1) (a) shall cause proper accounts of all its funds, property, assets and liabilities of the Council to be kept, and to be audited in every year.

            (2) The audited accounts shall be presented by the Executive Committee to the ordinary general meeting.

[Ch6109s32]32.     Funds of Council

            (1) The funds of the Council shall consist of—

     (a)     members’ voluntary contributions, bequests, and subscription fees;

     (b)     fees and other monies paid for services rendered by the Council;

     (c)     monies from the rental or sale of any property of the Council; and

     (d)     grants, gifts or donations from lawful organisations or sources.

            (2) The Council shall keep bank accounts in such banks, and in such a manner as it may determine.

            (3) There shall be disbursed from the funds of the Council—

     (a)     the salaries and expenses of the staff of the Council;

     (b)     such reasonable travelling and subsistence allowances for members of the Council or members of any committee of the Council when engaged in the business of the Council; and

     (c)     any other expenses incurred by the Council in the discharge of its functions.

[Ch6109s33]33.     Financial year of Council

            The financial year of the Council shall be the period of 12 months commencing on 1st April each year and ending on 31st March of the following year.

[Ch6109s34]34.     Annual reporting

            (1) The Executive Committee shall present to the ordinary general meeting a full report of its activities.

            (2) The Executive Committee shall, at the end of each financial year, submit to the Minister an annual report indicating the activities and operations of the Council in respect of that financial year.

[Ch6109s35]35.     Role of Minister

            The Minister may, by order, direct that the Executive Committee be dissolved and that a new Executive Committee be elected, where the Executive Committee fails to submit its annual report, in accordance with section 34 (2).

[Ch6109s36]36.     Transitional provisions

            (1) In this section, "interim Executive Committee" means the Executive Committee appointed by the Minister, in writing, for the time being, until the Council elects the Executive Committee under section 18 (2).

            (2) The interim Executive Committee shall be composed of nine members, who shall be publishers.

            (3) A publisher shall apply, in writing, to the interim Executive Committee for membership of the Council.

            (4) The interim Executive Committee shall—

     (a)     approve or reject an application under subsection (3),

     (b)     carry out the functions of the Executive Committee under section 18 (3); and

     (c)     continue to operate until the Council elects the Executive Committee under section 18 (2).

[Ch6109s37]37.     Regulations

            (1) The Executive Committee may, subject to approval by a special resolution, make regulations providing for any matter which is to be provided for by regulations made by the Executive Committee or which is to be prescribed by the Executive Committee, which shall be binding on all members of the Council, and in addition prescribing all or any of the following matters—

     (a)     the regulation of powers exercisable by the Council and of committees appointed by the Council;

     (b)     the delegation of functions of the Council under section 23;

     (c)     the manner of applying for registration and accreditation of resident media practitioners under section 6 (2);

     (d)     the manner of convening meetings of the Council and of committees appointed by the Council, voting procedures and other procedures thereof;

     (e)     the manner of application for membership of the Council and termination of such membership; and

     (f)      such other matters as may be deemed by the Council to be necessary for the promotion of the functions and the regulation of the affairs of the Council.

            (2) For the purposes of this section, "special resolution" means a resolution passed by not less than two-thirds of members and associate members of the Council as may be present and voting thereon at a general meeting of the Council duly convened with notice of the intention to propose such resolution.

[Ch6109s38]38.     Regulations to be made by the Minister

            The Minister may, by statutory instrument, make regulations —

     (a)     directing that the Executive Committee be dissolved and that the Council elects a new Executive Committee, in accordance with section 35;

     (b)     relating to any other matter intended to safeguard the interests of the public and promote professional standards in the media;

     (c)     giving effect to the Code of Ethics issued by the Council;

     (d)     relating to the registration and accreditation of non-resident media practitioners; and

     (e)     prescribing anything to be prescribed by the Minister under this Act.