deliberated upon by the Board shall, as soon as possible after the relevant facts have come to his or her knowledge, disclose the nature of that interest at a meeting of the Board and such disclosure shall be recorded in the minutes of that meeting. (2) A disclosure referred to under subsection (1) shall be made before the commencement of the Board's deliberations on the matter in respect of which the disclosure is made, whereupon the member disclosing the interest shall, unless the Board otherwise determines, leave the meeting and not take part in the Board's deliberations and voting on such matter. (3) Notwithstanding the provisions of subsection (2), a member shall be deemed to have made due and sufficient disclosure of his or her interest in a matter if he or she(a) gives written notice at any Board meeting, to the effect that he or she is a member of a specified body corporate, organisation or association and is to be regarded as interested in any contract or arrangement which is made by the Board with such body corporate, organisation or association after the date of such notice; or (b) takes reasonable steps to ensure that the disclosure is made by a written notice which is conveyed to and considered at a Board meeting, even if such member does not physically attend that meeting to make the disclosure himself or herself. (4) A member who(a) knowingly fails to disclose his or her interest in a matter before the Board, contrary to the provisions of subsection (1); or (b) without leave of the Board, takes part in the deliberations of the Board on a matter in which he or she has a direct or indirect interest, contrary to the provisions of subsection (2), shall be guilty of an offence and be liable on conviction to a fine not exceeding N$20 000 or to imprisonment for a period not exceeding five years, or to both such fine and imprisonment. [NAMa15y1997s11]11 Appointment of staff, agents and correspondents (1) The Governor, or any other officer of the Bank or Deputy Governor to whom the Governor has delegated the power conferred by this subsection, may appoint or employ such officers, employees, agents and correspondents of the Bank, as the Governor may consider necessary for the efficient functioning of the Bank. (2) The terms and conditions of employment, including conditions relating to remuneration and service benefits, of officers or employees appointed or employed under subsection (1) shall be determined by the Board, on the recommendation of the Governor. (3) The Bank may, subject to such terms and conditions as may be determined by the Board(a) establish and manage, or make arrangements or enter into agreements with any person to manage, any pension or provident fund or similar scheme for the benefit and protection of officers and employees, and former officers and employees, of the Bank and their dependants or nominees, and make contributions to any such fund or scheme; or (b) grant secured or unsecured advances to officers or employees of the Bank for such purpose and in such amounts as the Board may approve. [NAMa15y1997s12]12 Confidentiality (1) No person shall directly or indirectly disclose to another person any information that he or she has acquired in the performance of his or her duties or functions, for or on behalf of the Bank, except for the purpose of the performance of his or her duties or functions in terms of this Act or when required to do so by a court of law or under any law or on authority of the Board. (2) Any person who contravenes subsection (1) shall be guilty of an offence and liable on conviction to a fine not exceeding N$20 000 or to imprisonment for a period not exceeding five years, or to both such fine and imprisonment.