Purpose of Policy
This policy serves as a guide for current trustees, prospective trustees, staff of the Foundation and the many volunteers who assist the Foundation. Personal interests and duties to the charity will sometimes be in conflict. Therefore, they need to be managed openly and carefully. It is expected that any matter which might be construed as a clash between personal and Foundation interests will be raised.
Trustees have a legal duty as charity trustees to declare interests and avoid conflicts of interest. Regard should be taken for the Charity Commission guidance on this topic https://www.gov.uk/government/publications/conflicts-of-interest-a-guide-for-charity-trustees-cc29 .
Related Parties
All board and senior staff members are asked to supply details of any Related Parties which are noted on our conflict-of-interest declaration document. Trustees are required to provide a list of their charity and business interests, particularly if the related party could potentially be involved in a transaction with the Trust.
Register of Interests and Related Parties Transactions
Interests will be recorded on the charity’s Declaration of Register of Interests, and transactions involving any Related Parties will be documented and logged; this will be maintained by the Trust Manager.
The Declaration of Interests will be updated ongoing and signed off by the Chair annually. Trustees are required to update their entry whenever any relevant change of personal circumstances occurs. Related Parties transactions will be documented when a transaction is made and recorded in the accounts; this will be maintained by the Trust Director or Trust Manager.
Changes of interests that occur at any other time during the year should be declared to the Trust Manager for the Register of Interests to be current and accurate.
If a Trustee is not sure what to declare, or whether/when a declaration needs to be updated, they should err on the side of caution.
The Declaration Register will only be accessible by Trustees and the Trust Manager and professional advisers appointed by The Bishop Radford Trust (including auditors and legal advisors), unless disclosure is required by law or by any appropriate regulatory body. The information provided will be processed only to ensure that trustees and staff act in the best interests of The Trust. The information provided will not be used for any other purpose. The information will be processed in accordance with The Trust’s Privacy Policy.
Types of Interest to be Registered
The exact nature of the interest will vary according to personal circumstances, but the following are examples of interests, which should be declared if relevant, linked to a beneficiary charity, board member or trustee of a current or potential beneficiary.
Declaration of Interests at meetings
Declarations of interest should be made at the beginning of any Bishop Radford Trust meeting where an agenda item involves a direct conflict with an individual present. Any direct or indirect interest arising from an agenda item conflicting with an interest listed should be declared and will be noted in the meeting minutes. If a trustee fails to declare a conflict of interest themselves that is known to any of the meeting members, it must be declared to the Chair by whoever perceives the conflict.
Trustees and staff are only asked to declare relevant interests (i.e. interests which, in their judgment, are relevant to, or may impact upon, their Bishop Radford Trust duties).
A declaration must also be made for potentially perceived conflicts, even if the individual personally believes there is no actual conflict. This is to protect The Bishop Radford Trust and the individual’s reputation and ensure The Bishop Radford Trust is thorough in its risk management.
What to do if you face a Conflict of Interest
Trustees and staff should declare their interest at the earliest opportunity, by declaring the interest, trustees together assess the risk of the conflict, i.e. no significant influence over the grant applicant, if considered low risk, continue with discussions, and the decision will be made by majority. This includes board meetings, meetings and electronic/email discussions and any other situations where acting in the capacity of Bishop Radford Trust trustee.
If the conflict was high risk, for example, if a trustee does exert significant influence over a grant applicant, then the relevant individual should withdraw from the discussions. For example, high risk may be limited to where trustees or employees directly personally benefit from the decision.
Trustees may, however, participate in discussions from which they may indirectly benefit, for example, where the benefits are universal to all users, or where the benefit is minimal. This participation will be at the Chair’s discretion.
Trustees, staff and volunteers should not participate in discussions or decision-making regarding an application with which they have an involvement or personal interest.
Decisions taken where a Trustee has an Interest
In the event of the board having to decide upon a question in which a trustee has an interest, all decisions will be made by vote, with a simple majority required.
If, in the opinion of the Chair, it is deemed appropriate, the interested party may be asked to leave the room during the discussion
Interested board members/trustees may not vote on matters affecting their own interests.
All decisions under a conflict of interest will be recorded and reported in the minutes of the meeting. The report will record:
- the nature and extent of the conflict.
- an outline of the discussion.
- The actions taken to manage the conflict.
- Review
The effectiveness of this policy and associated arrangements will be reviewed every two years under the direct supervision of the Trust Director and approved by the Board of Trustees.
The Bishop Radford Trust Charity Number: 1113562 Registered Address: 5th Floor, 3 Dorset Rise, LONDON, EC4Y 8EN Registered in England and Wales
Version 1.0.
Approved by the Trustee Board
