Directors have a duty to avoid conflicts of interest between their personal interests and the interests of a company. Sometimes a conflict is unavoidable. This policy guides directors on how to disclose their conflict of interest or duty and take appropriate action to avoid any adverse consequences.
Our Commercial Legal team has drafted the Board Members’ Conflict of Interest Policy, which sets out effective procedures on handling a conflict of interest. The policy addresses:
- what a conflict of interest is;
- offers illustrative examples;
- details the expectations and obligations of your directors;
- provides procedures on disclosing a conflict; and
- provides procedures on managing a conflict.
This policy will assist directors to effectively identify, disclose and manage any actual, potential or perceived conflicts of interest to manage risk and protect the integrity of the organisation.
