18. Chairing a Meeting of the Board

18.2. Identify Conflicts of Interest

If a director holds an office or has an interest in a matter that could conflict with the director’s duties, the conflict of interest must be declared at a meeting of the Board of directors. Unless the Board decides otherwise, the director cannot be present while the Board deliberates on the relevant matter. The conflicted director cannot take part in the Board’s decision on the matter. However, no conflict of interests exists if a member director simply holds an interest in common with all other members.  

The term 'personal interests' refers to interests more broad than just those of an individual. It may also refer to the interests of someone’s family, friends, or other organisations they are involved with.