Any officer or employee of the Merged Government who shall have any private financial interest, directly or indirectly, in any contract or matter pending before or within any department of the Merged Government shall disclose such private interest to the Council. Any council member who has a private interest in any matter pending before the Council shall disclose such private interest on the records of the Council and shall disqualify himself from participating in any decision or vote relating thereto. Any officer or employee of an independent agency to which this code of ethics applies who shall have any private financial interest, directly or indirectly, in any contract or matter pending before or within such independent agency shall disclose such private interest to the governing body of such independent agency.