LEP Board definition
Examples of LEP Board in a sentence
LEP Board Directors' shall not be remunerated although they may be paid all reasonable travel, hotel, and other expenses properly incurred by them in connection with their attendance at meetings of LEP Directors' or otherwise in connection with the discharge of their duties in line with the LEP travel and expenses policy.
A LEP Board Director must act independently and with integrity, ensuring that he or she is always acting in the best interests of the LEP as a whole and are not unlawfully influenced by a third party.Certain acts of LEP Board Directors' which may conflict with that duty, these conflicts may however be expressly permitted or are capable of being authorised under the LEP’s Articles of Association.
LEP Board Directors' must avoid situations where they can, or have, a direct or indirect interest that conflicts, or possibly may conflict, with the interests of the LEP.
LEP Board Directors' may take, in the furtherance of their duties, independent professional advice if necessary and agreed by other LEP Board Directors', at the Board’s expense.
A LEP Board Director must exercise reasonable care, skill and diligence.
A LEP Board Director must act in the way he or she considers, in good faith, would be the most likely to promote the role of the LEP as detailed above.
All other potential expenses likely to be incurred by LEP Board Directors' must be made known to the LEP Secretariat beforehand and duly authorised before reimbursement.
The term “good faith” allows LEP Board Directors' freedom to exercise commercial judgment without fear of having the courts interfering with their commercial decisions.
If LEP Board Directors' are in any way, directly or indirectly, pecuniaryi or non- pecuniaryii (including membership of any Trade Union, political party or local authority that relates to your LEP duties) interested in a proposed transaction or arrangement with the LEP, they must declare the nature and extent of that interest to the other LEP Board Directors'.
The LEP has an agreed protocol for the attendance of observers at LEP Board and Committee meetings.