The third policy tool to establish for setting effective standards for personal performance is a Conflict of Interest Policy that applies both to the directors and the CEO. The sample document in Exhibit 6.3 is based on a publication produced by a not-for-profit legal society in Canada. It is entitled Draft Model Conduct Guidelines and is as relevant today as it was when first published.
A “conflict of interest” is any situation where:
(a) your personal interests, or
(b) those of a close friend, family member, business associate, corporation or partnership in which you hold a significant interest, or a person to whom you owe an obligation could influence your decisions and impair your ability to
(i) act in the society’s best interests, or
(ii) represent the society fairly, impartially and without bias.
It is important to note that a “conflict of interest” exists if the decision could be influenced – it is not necessary that influence takes place.
The third policy tool to establish for setting effective standards for personal performance is a Conflict of Interest Policy that applies both to the directors and the CEO. The sample document in Exhibit 6.3 is based on a publication produced by a not-for-profit legal society in Canada. It is entitled Draft Model Conduct Guidelines1 and is as relevant today as it was when first published.