Key principles

The key principles in relation to conflicts of interest are as follows:

1. •

   a conflict of interest is any situation in which a trustee’s personal interests or loyalties could, or could be seen to, prevent the trustee from making a decision only in the best interests of the Charity

2. •

   trustees must not put themselves in any position where their duties as trustee may conflict with any personal interest or loyalties they may have or let personal loyalties or interests override their trustee duties and responsibilities

3. •

   the Charity Commission's Guidance places an increasing emphasis on the management and/or avoidance of Conflicts of interests

4. •

   where a potential conflict of interest arises, it must be managed appropriately—such as by the relevant trustee absenting themselves from the decision-making process

5. •

   charities should also prepare and maintain a conflicts of Interest policy which encompasses:

   1. ◦

      the types of conflict of interest that the policy addresses

   2. ◦

      when a trustee can take a benefit from the charity

   3. ◦

      the establishment of a register of interests

   4. ◦

      the method