RISE Policy: Conflict of Interest

Date adopted:  ****2024

Purpose of the policy/policy statement

1. Trustees have a duty to avoid a situation in which they have, or can have, a direct or indirect interest that may conflict with the organisation’s interest. 

Detailed policy statement

2.1 Conflict

A conflict of interest occurs when a person’s vested interests raise a question of whether their actions, judgement and/or decision-making can be unbiased. These interests may lead the individual or group to choose personal gain over their professional duties to the organisation.

Conflicts may arise over money, specifically the allocation of funding, status, knowledge, relationships or reputation.

2.2 Duty to Declare

Where a director or employee is involved either directly or indirectly with another organisation transacting with LDYPF, they must declare the nature and extent of that interest. The declaration must be made before the company enters into the agreement.

2.3 Declarations

Directors must declare their interest to the Chair or Company Secretary. The interest will be recorded in the minutes of board meetings when the agreement or contract is discussed.

2.4 Resolving Conflicts of Interest

Director’s conflicts of interest may be resolved by:

• Not counting the conflicted director in the quorum present at the meeting for the purpose of discussion related to their interest, and requiring the conflicted director not to vote on any related resolution.
• Authorisation of the conflict by a majority vote of non-conflicted directors, allowing the conflicted director to continue to play a full part in discussion and votes.

2.5 Consequences of Failure to Declare an Interest

Failure by a director to declare their interest is a criminal offence.

Applicability 

3.1 This policy applies to all employees, volunteers, consultants, and contractors.

Getting Help

4.1 The Chair of Trustees should be contacted for advice on interpretations, resolution of problems, and special situations etc.

Implementation procedures

5.1 Overall responsibility for policy implementation and review rests with the Chair of trustees. However, all staff and board members are obliged to adhere to, and support the implementation of this policy. The policy will be drawn to the attention of all new staff and board members on recruitment/induction. 

5.2 An annual declaration of interests will be made and included in meeting minutes. 

Next review date

 **/11/25