Common use of Background to Policy Clause in Contracts

Background to Policy. FRIAA is a society incorporated under the Societies Act. Pursuant to its bylaws, the affairs of FRIAA are managed and directed by the Directors of FRIAA. The Directors of FRIAA, by virtue of their position of control over the affairs of the Association, stand in a fiduciary relationship to FRIAA. Consequently, the Directors of FRIAA must have regard to the requirements of the law governing fiduciary relationships where conflicts of interest arise. The Directors of FRIAA are mindful that their actions will be subject to public scrutiny. FRIAA has been delegated certain powers, duties and responsibilities of the Minister of Environmental Protection under the Environmental Protection and Enhancement Act and the Forests Act. The Directors of FRIAA discharge these powers, duties and responsibilities in a manner which is consistent with and which furthers the public interest. FRIAA has adopted a set of guidelines which will assist the Directors of FRIAA to discharge their duties in accordance with their responsibilities as fiduciaries and as responsible stewards of a public undertaking. The guidelines are attached to and form part of this policy statement.