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(b) the interest of the director is not different in nature from, or greater in extent than, the nature and extent so specified in the notice at the time any advance is made.

(3) Every director of a licensed financial institution or licensed financial holding company who holds any office or possesses any property where directly or indirectly, duties or interests might be created in conflict with his duties or interests as a director in the Currency Union shall declare the fact, nature, character and extent of the conflict at the first meeting of the board held: (a) after assuming office as a director of the licensed financial institution or licensed financial holding company; or (b) if already a director, after the date of commencement in office or possession of the property. (4) Every director of a licensed financial institution or licensed financial holding company who qualifies as an interested director under the provisions of this section shall cause to be brought up and read any declaration made under subsections (1) or (3) at the next meeting of the board after it is given, and shall cause to be recorded any declaration made under this section in the minutes of the meeting at which it was made or at which it was brought up or read. (5) A director who contravenes subsection (1) or subsection (3) commits an offence and is liable on summary conviction to a fine not exceeding ten thousand dollars or to imprisonment for a term not exceeding one year or to both such fine and imprisonment. Responsibility for deceiving statements and obstruction of audit or 111. authorised examination Any director, officer, secretary, employee or agent of a licensed financial institution or licensed financial holding company who:

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