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Excerpt from Municipal Conflict of Interest Act <br />Section 2: Indirect pecuniary interest <br />2. For the purpose of this Act, a member has an indirection pecuniary interest in <br />any matter in which the council or local board, as the case may be, is concerned, <br />if, <br />a) the member or his or her nominee, <br />i. is a shareholder in, or a director or senior officer of, a corporation that <br />does not offer its securities to the public, <br />ii. has a controlling interest in or is a director or senior officer of, a <br />corporation that offers its security to the public, or <br />iii. is a member of a body, <br />that has a pecuniary interest in the matter; or <br />b) the member is a partner or is in the employment of a person or body that <br />has a pecuniary interest in the matter. R.S.O. 1990, c. M.50, s. 2. <br />Section 3: Interest of certain persons deemed that of member <br />3 For the purposes of this Act, the pecuniary interest, direct or indirect, of a parent <br />or the spouse or any child of the member shall, if known to the member, be <br />deemed to be also the pecuniary interest of the member. R.S.O. 1990, c. M.50, s. <br />3; 1990, c. 6, s. 41 (2); 2005, c. 5, 2. 45 (3). <br />For Exceptions see Section 4 of the Municipal Conflict of Interest Act <br />Section 5.1: Written Statements by Members <br />5 At a meeting at which a member discloses an interest under section 5, or as soon <br />as possible afterwards, the member shall file a written statement of the interest <br />and its general nature with the clerk of the municipality or the secretary of the <br />committee or local board, or as the case may be. <br />