AJKRSP Conflict of Interest Policy

AJK Rural Support Programme Conflict of Interest Policy
AZAD JAMMU & Kashmir Rural Support Programme (AJKRSP)
Conflict of Interest Policy

Policy on Conflicts of Interest And Disclosure of Certain Interests
This conflict of interest policy is designed to help directors, officers, and employees of the
AJKRSP to identify situations that present potential conflicts of interest and to provide
AJKRSP with a procedure that, if observed, will allow a transaction to be treated as valid
and binding even though a director, officer, or employee has or may have a conflict of
interest with respect to the transaction. In the event there is an inconsistency between the
requirements and the procedures prescribed herein and those in federal or state law, the
law shall control. All capitalized terms are defined in Part 2 of this policy.
1. Conflict of Interest Defined. For purposes of this policy, the following circumstances
shall be deemed to create Conflicts of Interest:
A. Outside Interests.
(i) A Contract or Transaction between AJKRSP and a Responsible Person or Family
Member.
(ii) A Contract or Transaction between AJKRSP and an entity in which a Responsible
Person or Family Member has a Material Financial Interest or of which such person is a
director, officer, agent, partner, associate, trustee, personal representative, receiver,
guardian, custodian, conservator, or other legal representative.
B. Outside Activities.
(i) A Responsible Person competing with AJKRSP in the rendering of services or in any
other Contract or Transaction with a third party.
(ii) A Responsible Persons having a Material Financial Interest in; or serving as a director,
officer, employee, agent, partner, associate, trustee, personal representative, receiver,
guardian, custodian, conservator, or other legal representative of, or consultant to; an entity
or individual that competes with AJKRSP in the provision of services or in any other
Contract or Transaction with a third party.
C. Gifts, Gratuities and Entertainment. A Responsible Person accepting gifts,
entertainment, or other favors from any individual or entity that:
(i) does or is seeking business with, or is a competitor of AJKRSP; or
(ii) has received, is receiving or is seeking to receive a loan or grant, or to secure other
financial commitments from AJKRSP;
(iii) is a charitable organization;
under circumstances where it might be inferred that such action was intended to influence
or possibly would influence the Responsible Person in the performance of his or her duties.
This does not preclude the acceptance of items of nominal or insignificant value or
entertainment of nominal or insignificant value that are not related to any particular
transaction or activity of AJKRSP.
2. Definitions.
A. A Conflict of Interest is any circumstance described in Part 1 of this Policy.
B. A Responsible Person is any person serving as an officer, employee or member of the
board of directors of AJKRSP.
C. A Family Member is a spouse, domestic partner, parent, child, or spouse of a child,
brother, sister, or spouse of a brother or sister, of a Responsible Person.
D. A Material Financial Interest in an entity is a financial interest of any kind that, in view of
all the circumstances, is substantial enough that it would, or reasonably could, affect a
Responsible Persons or Family Members judgment with respect to transactions to which
the entity is a party. This includes all forms of compensation. (The board may wish to
establish an amount that it would consider to be a material financial interest.)
E. A Contract or Transaction is any agreement or relationship involving the sale of purchase
of goods, services, or rights of any kind, the providing or receipt of a loan or grant, the
establishment of any other type of pecuniary relationship or review of a charitable
organization by AJKRSP. The making of a gift to AJKRSP is not a Contract or Transaction.
3. Procedures.
A. Before board or committee action on a Contract or Transaction involving a Conflict of
Interest, a director or committee member having a Conflict of Interest and who is in
attendance at the meeting shall disclose all facts material to the Conflict of Interest. Such
disclosure shall be reflected in the minutes of the meeting.
B. A director or committee member who plans not to attend a meeting at which he or she
has reason to believe that the board or committee will act on a matter in which the person
has a Conflict of Interest shall disclose to the chair of the meeting all facts material to the
Conflict of Interest. The chair shall report the disclosure at the meeting and the disclosure
shall be reflected in the minutes of the meeting.
C. A person who has a Conflict of Interest shall not participate in or be permitted to hear the
boards or committees discussion of the matter except to disclose material facts and to
respond to questions. Such person shall not attempt to exert his or her personal influence
with respect to the matter, either at or outside the meeting.
D. A person who has a Conflict of Interest with respect to a Contract or Transaction that will
be voted on at a meeting shall not be counted in determining the presence of a quorum for
purposes of the vote. The person having a conflict of interest may not vote on the Contract
or Transaction and shall not be present in the meeting room when the vote is taken, unless
2
the vote is by secret ballot. Such persons ineligibility to vote shall be reflected in the
minutes of the meeting. For purposes of this paragraph, a member of the board of directors
of AJKRSP has a Conflict of Interest when he or she stands for election as an officer or for
re-election as member of the board of directors.
E. Responsible Persons who are not members of the board of directors of AJKRSP or who
have a Conflict of Interest with respect to a Contract or Transaction that is not the subject of
board or committee action, shall disclose to the Chair or the Chairs designee any Conflict of
Interest that such Responsible Person has with respect to a Contract or Transaction. Such
disclosure shall be made as soon as the Conflict of Interest is known to the Responsible
Person. The Responsible Person shall refrain from any action that may affect AJKRSPs
participation in such Contract or Transaction.
In the event it is not entirely clear that a Conflict of Interest exists, the individual with the
potential conflict shall disclose the circumstances to the Chair or the Chairs designee, who
shall determine whether there exists a Conflict of Interest that is subject to this policy.
4. Confidentiality. Each Responsible Person shall exercise care not to disclose confidential
information acquired in connection with such status or information the disclosure of which
might be adverse to the interests of AJKRSP. Furthermore, a Responsible Person shall not
disclose or use information relating to the business of AJKRSP for the personal profit or
advantage of the Responsible Person or a Family Member.
5. Review of Policy.
A. Each new Responsible Person shall be required to review a copy of this Policy and to
acknowledge in writing that he or she has done so.
B. Each new Responsible Person shall annually complete a disclosure from identifying any
relationships, positions, or circumstances in which the Responsible Person is involved that
he or she believes could contribute to a Conflict of Interest arising. Such relationships,
positions, or circumstance might include service as a director of or consultant to a not-forprofit organization, or ownership of a business that might provide goods or services to
AJKRSP. Any such information regarding business interests of a Responsible Person or a
Family Member shall be treated as confidential and shall generally be made available only
to the Chair, the Chief Executive Officer, and any committee appointed to address Conflicts
of Interests, except to the extent additional disclosure is necessary in connection with the
implementation of this Policy.
C. This policy shall be reviewed annually by each member of the board of directors. Any
changes to the policy shall be communicated immediately to all Responsible Persons.
AJK RURAL SUPPORT PROGRAMME (AJKRSP)
Conflict of Interest Information Form

Name: Raja Amjad Pervaiz
Designation: Admin/Finance Associate
Please describe below any relationships, positions, or circumstances in which you are involved
that you believe could contribute to a Conflict of Interest (as defined in AJKRSPs Policy on
Conflicts of Interest) arising.
As per our working system conflict of interest can arise with our vendors, customers & some
employees. I, as a Responsible Person try to follow the rules in true letter and spirit and avoid
any conflict of interest situations which can occur during my duties.
I hereby certify that the information set forth above is true and complete to the best of my
knowledge. I have reviewed, and agree to abide by, the Policy of Conflict of Interest of AJKRSP
that is currently in effect.
Signature:_______________________________
Date:___________________________________

AJKRSP Conflict of Interest Policy

Uploaded by

Copyright:

Available Formats

AJKRSP Conflict of Interest Policy

Uploaded by

Document Information

Copyright

Available Formats

Share this document

Share or Embed Document

Sharing Options

Did you find this document useful?

Is this content inappropriate?

Copyright:

Available Formats

AJKRSP Conflict of Interest Policy

Uploaded by

Copyright:

Available Formats

AJK Rural Support Programme Conflict of Interest Policy

AZAD JAMMU & Kashmir Rural Support Programme (AJKRSP)

Conflict of Interest Policy

AJK Rural Support Programme Conflict of Interest Policy

AJK Rural Support Programme Conflict of Interest Policy

AJK Rural Support Programme Conflict of Interest Policy

AJK RURAL SUPPORT PROGRAMME (AJKRSP)

Conflict of Interest Information Form

You might also like