board of directors
code of conduct on conflicts declaration and register of interests
- It is essential that the procedures of the Board of Directors, Sub Groups and Project Investment Panel are fully transparent and that all members maintain the highest professional standards, and standards of integrity.
- Meetings of Board of Directors, Sub Groups and Project Investment Panel should be conducted honestly and fairly.
- If any member of the Board of Directors, Sub Groups and Project Investment Panel has an interest in an agenda item or project, then they must declare that interest.
- A member must make the disclosure of an interest, at the meeting as soon as practicable after its commencement. In practice this is preferably at the commencement of the relevant agenda item of business. The member must disclose the interest orally.
- An interest may be where an application for funding is:
- Pecuniary a direct financial benefit, whether through employment, directorship, sale of property etc
- Non-pecuniary an indirect benefit to an organisation of which you are an active member, participant, trustee etc
- Personal a direct financial benefit to a close friend, partner of relative
- In the case of a pecuniary interest, a Member of the Board of Directors, Sub Groups and Project Investment Panel must leave the room.
- In the case of non-pecuniary, or personal interest, it may be helpful for the Board of Directors, Sub Groups and Project Investment Panel, that the members who have declared such an interest speak to the agenda item as they may well have relevant information to provide. However, they should not vote or play a part in making a decision regarding the matter in which they have an interest.
Under these situations, members may be called upon, at the discretion of the Chair to clarify issues/facts, and leave the room.
There may be occasions when the Board of Directors, Sub Groups and Project Investment Panel feels it appropriate for those who have declared a non-pecuniary, or personal interest leave the room while the matter is discussed, in order to publicly demonstrate that they have not influenced the decision. - If any member of the partnership are employed by (on a salaried basis) or otherwise associated with applicant organisations – although they may not be representing that organisation in the partnership, they must declare an interest and not be present in the room for discussion of that project or any other project in the same measure.
- All declarations of interest, and egress and entrance of members in relation to declarations of interest, will be minuted.
- Members of the Partnership Investment Panel will refrain from releasing confidential information regarding the project investment analysis information in its entirety, and or in accordance with any supplementary code of conduct issued by the Wales Tourist Board on this matter.
- Members will submit written declarations of their interests on an annual basis, these to be maintained on a register. See Appendix I – Register of Interests.
Definitions
Direct Interest
A direct interest is not defined in absolute terms. A direct interest is one where a member has been directly involved in the design, development or subsequent implementation, or who has had/will have any pecuniary interest in the successful outcome of the project in question. A member with direct supervisory or line management responsibility over an employee who has such an aforementioned involvement is also considered to have a direct interest.
Indirect Interest
An indirect interest is one where a member or alternate is an employee or member of an organisation, company or other body, which has a direct interest (membership of a company would include owning shares in the company).
16 April 2002
