Conflict of interest

What is conflict of interest?

A conflict of interest situation arises when the private interests of a Board member of staff member compete or conflict with the interests of the company or the Board member's or staff member's official duties.

Private interests include financial and other interests of the Board member or staff member himself; his family or other relations; his personal friends; the clubs and associations to which he belongs; any other groups of people with whom he has personal or social ties; or any person to whom he owes a favour or to whom he may be obligated in any way.