REQUIREMENTS FOR DISCLOSURE Clause Samples
REQUIREMENTS FOR DISCLOSURE. Members of the Boards of Directors and employees of external service providers are responsible for disclosure of any situation or matter where they have an actual or perceived conflict of interest or the potential for a conflict of interest. Conflict of interest declarations should be filed annually at a minimum or updated immediately where:
(i) an actual, potential or perceived conflict situation arises where none existed previously; or
(ii) a change occurs which alters the nature or degree of the conflict, subsequent to a declaration being made. Where a conflict of interest has been found to exist, the Board member or employee, if necessary, will be required to take steps to avoid the conflict of interest. As well, where a perceived or potential conflict situation may exist, the Board member or employee will be provided with advice on what steps need to be taken to remove the perception of or the potential for a conflict of interest.
1) Where a Board member is unsure whether any conflict of interest may exist, it is his/her responsibility to seek clarification from the Board of Directors. A Board member shall disclose in writing to the Board of Directors, or request to have entered in the minutes of meetings of the Board of Directors, the nature and extent of his/her interest. The Board of Directors shall decide by majority vote of other members at the meeting whether a perceived or actual conflict of interest exists in the case of a Board member. No Board member shall be present during any discussions of the Board or vote on any matter where it has been decided that a material interest exists. The minutes of the Board meeting shall in each case record the member's disclosure of interest and the fact he/she took no part in the discussion or decision. In addition, the Board member must refrain from attempting, directly or indirectly, to influence the decision of the Board.
i) The Board of Directors may choose to delegate to an Executive Committee of the Board, the authority to decide whether a material interest exists for Board members;
ii) If the Executive Committee of the Board cannot decide, the matter shall be referred to the full Board for decision.
2) Where an employee is unsure whether any conflict of interest may exist, it is his/her responsibility to seek clarification from the Board of Directors or the Board's delegate. A service provider employee shall disclose in writing to the Board of Directors, or the Board's delegate, the nature and extent...
REQUIREMENTS FOR DISCLOSURE. Board of governors and employees of external agencies are responsible for disclosure of any situation or matter where they have an actual or perceived conflict of interest or the potential for a conflict of interest. Conflict of interest declarations should be filed annually at a minimum or updated immediately where:
i) an actual, potential or perceived conflict situation arises where none existed previously;
ii) change occurs which alters the nature or degree of the conflict, subsequent to a declaration being made. Where a conflict of interest has been found to exist, the board member or employee, if necessary, will be required to take steps to avoid the conflict of interest. As well, where a perceived or potential conflict situation may exist, the board member or employee will be provided with advice on what steps need to be taken to remove the perception of or other potential for a conflict of interest.
REQUIREMENTS FOR DISCLOSURE. Members of the boards of directors and employees of external agencies are responsible for disclosure of any situation or matter where they have an actual or perceived conflict of interest or the potential for a conflict of interest. Conflict of interest declarations should be filed annually at a minimum or updated immediately where:
REQUIREMENTS FOR DISCLOSURE. For the purpose of this Agreement it may be necessary for one or both Parties to disclose (“Disclosing Party”) to the other Party (“Receiving Party”), Confidential Information. The Disclosing Party will disclose such Confidential Information under the conditions stated in this clause 9 (Confidentiality), which are understood to be acceptable to the Receiving Party.