Definition
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:
- act in the Society's best interests, or
- represent the Society fairly, impartially and without
bias.
It is important to note that a "conflict of interest" exists if
the decision could be, or could appear to be influenced - it is not
necessary that influence takes place.
General Duties
Unless authorized to do so by the Board, you may not:
- act on behalf of the Society, or deal with the Society, in any
matter where you are in a conflict of interest or appear to be in a
conflict of interest, nor
- use your position, office or affiliation with the Society to
pursue or advance your personal interests or those of a person
described in the above definition.
- have an interest in a competitive program or product of which
you can appear to have influence over policy.
The "appearance of a conflict of interest" occurs when a
reasonably well informed person properly could have a reasonable
perception that you are making decisions on behalf of the Society
that promote your personal interests or those of a person described
in the above definition.
You must immediately disclose a conflict of interest to the
Board of Directors either in writing or as minuted at a Board of
Directors' meeting. It is important to make the disclosure when the
conflict first becomes known. If you do not become aware of the
conflict until after a matter is concluded, nevertheless you must
still make the disclosure immediately.
:::
If you are in doubt about whether you are or may be in a
conflict of interest, you must request the advice of the Board of
Directors or a person the Board designates.
Unless otherwise directed, you must immediately take steps to
resolve the conflict or remove the concern that it exists, by:
- Promptly declaring to the Board of Directors any conflict of
interest as defined by this policy and asking that such declaration
be recorded in the minutes.
- Excusing yourself from the portion of the meeting where the
matter giving rise to the conflict of interest is being
discussed.
- Refraining from all discussion of the matter giving rise to the
conflict of interest at any meeting of the Board of
Directors.Refraining from voting on the matter giving rise to the
conflict of interest, at any meeting of the Board of
Directors.
- Refraining from voting on the matter giving rise to the
conflict of interest, at any meeting of the Board of
Directors.
Failure to adhere to the above mentioned would be in direct
conflict of the guidelines.
You must not:
- personally benefit from any business activity involving the
Society except in situations authorized by the Board.
- use your relationship with the Society to confer a benefit on a
person described in paragraph 1.1(b). This duty does not prevent
you or anyone else from conducting business with other people
connected with the Society.