Conflict of Interest Policy - Template, Sample Form Pro · AU-law

CONFLICT OF INTEREST POLICY

________ (ACN ________) ("Employer", "we", "us" or "our")

Registered office: ________

Version: ________  |  Last updated: ________  |  Next review date: ________

(1) ABOUT THIS POLICY

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(b) The Employer expects all Employees to conduct themselves ethically, lawfully and with integrity in the course of their engagement, consistent with their duties under the Fair Work Act 2009 (Cth), the general law and, where applicable, the Corporations Act 2001 (Cth).

(c) This Policy is designed to assist all Employees of ________ to identify, disclose and manage actual, potential and perceived conflicts of interest.

(d) This Policy provides guidance on how to identify potential conflicts of interest, how to manage them, and how and when to disclose them. Handling conflicts of interest in accordance with this Policy protects the integrity of Employees and the Employer and supports a constructive working relationship.

(e) This Policy does not form part of any contract of employment and may be varied, replaced or withdrawn by the Employer at any time at its discretion. To the extent of any inconsistency between this Policy and an applicable modern award, enterprise agreement or contract of employment, that award, agreement or contract prevails.

(f) Please read this Policy carefully. If you have any questions, please contact your manager, supervisor or the person identified in section (9).

(g) Compliance with this Policy is a lawful and reasonable direction of the Employer. Failure to comply may result in disciplinary action, up to and including termination of employment or engagement.

(2) WHAT IS A CONFLICT OF INTEREST?

(a) An Employee has a conflict of interest where their personal interests conflict, or may conflict, with their duty to act in the best interests of the Employer. "Personal interests" include the Employee's own interests and the interests of their spouse, partner, family members, friends or other associates.

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(c) A conflict of interest may be actual, potential or perceived, and may relate to financial or non-financial matters.

(d) An "actual" conflict is a conflict of interest that currently exists.

(e) A "potential" conflict is one that does not yet exist, but is likely to arise if the Employee continues a particular course of conduct.

(f) A "perceived" conflict is one that may not actually exist, but could reasonably appear to a third party to exist. Perceived conflicts should be avoided, as they may undermine confidence in the Employee and the Employer.

(3) EXAMPLES

(a) The examples below are intended to assist Employees to understand what a conflict of interest may look like. They are not exhaustive, and conflicts of interest may arise in circumstances different from those listed.

(b) Some general examples of conflicts of interest include where:

(I) the Employee, or a friend or family member of the Employee, has a current or potential financial interest that would affect the Employee's ability to perform their duties impartially;

(II) the Employee is involved with, or has the potential to be involved with, a business that competes with the Employer;

(III) the Employee uses the Employer's confidential information or property for personal gain;

(IV) the Employee accepts significant gifts, hospitality, benefits or monetary compensation from third parties dealing with the Employer, such as clients, customers, suppliers or vendors;

(V) the Employee participates in a recruitment, procurement, supervisory or decision-making process involving a person with whom they have a close personal or family relationship; or

(VI) the Employee otherwise stands to benefit personally as a result of their relationship with the Employer in a capacity other than as an Employee.

(4) OUR APPROACH

(a) We recognise that Employees have interests, relationships and obligations outside of their engagement with us.

(b) We recognise that conflicts of interest are common and are not, in themselves, a problem, provided they are disclosed and managed openly, honestly and effectively.

(c) Any conflict of interest, whether actual, potential or perceived, and whether financial or non-financial, creates a risk that an Employee may act other than in the best interests of our organisation.

(d) We will handle all matters under this Policy sensitively, fairly and confidentially, and in accordance with our obligations under the Privacy Act 1988 (Cth) and the Australian Privacy Principles.

(5) WHAT WE EXPECT OF EMPLOYEES

(a) We require Employees to:

(I) comply with all applicable laws, rules and regulations;

(II) comply with this Policy;

(III) avoid actual conflicts of interest;

(IV) avoid the appearance of any conflict of interest;

(V) notify us of any actual, potential or perceived conflict of interest at the earliest opportunity;

(VI) carefully and continually monitor and manage any conflicts of interest that arise, in open consultation with us;

(VII) manage any conflict of interest as directed by us;

(VIII) promptly respond to any breaches of this Policy;

(IX) promptly report any breaches of this Policy to us;

(X) take a proactive and precautionary approach to conflicts of interest, and where unsure whether a matter is a conflict, treat it as though it is;

(XI) conduct themselves in a manner that does not compromise our reputation;

(XII) act in our best interests during the course of their engagement;

(XIII) not hold any financial interest that conflicts with our interests without prior written disclosure to, and approval by, us;

(XIV) not be involved with any business or organisation that conflicts with or competes with our business without prior written disclosure to, and approval by, us; and

(XV) not use or disclose our confidential information except for the proper performance of their duties for us.

(b) Employees who are directors or officers of the Employer must also comply with their statutory duties under the Corporations Act 2001 (Cth), including the duties relating to disclosure of material personal interests and the avoidance of improper use of position or information.

(6) HOW TO DISCLOSE CONFLICTS OF INTEREST

If you need to disclose an actual, potential or perceived conflict of interest, you must do so promptly and in writing in the following manner:

________

Disclosures should be directed to ________ and will be recorded in a conflict of interest register maintained by the Employer.

(7) HOW WE HANDLE CONFLICTS OF INTEREST

We will assess and manage disclosed conflicts of interest in the following manner:

________

Management strategies may include recording the conflict, restricting the Employee's involvement in relevant matters, requiring additional oversight, reassigning duties, or requiring the Employee to relinquish the conflicting interest.

(8) BREACHES OF THIS POLICY

(a) Compliance with this Policy is a lawful and reasonable direction applicable to all Employees.

(b) We take any breach of this Policy seriously. A failure to comply with this Policy, including a failure to disclose or properly manage a conflict of interest, may amount to misconduct or serious misconduct.

(c) If an Employee becomes aware of any actual, potential or perceived breach of this Policy, whether by themselves or another Employee, they must report it to their manager or supervisor at the earliest opportunity.

(d) We will investigate any reported or suspected breach of this Policy fairly, promptly and confidentially, and in accordance with the principles of procedural fairness.

(e) We will treat all parties involved in an investigation, including the person who made the report, with respect and fairness.

(f) Employees are required to cooperate fully with any investigation conducted under this Policy.

(g) Where a breach of this Policy is established, we may take disciplinary action against the relevant Employee.

(h) Disciplinary action may include, but is not limited to, a formal warning, suspension, demotion, reassignment of duties, or termination of employment or engagement, having regard to the nature and seriousness of the breach and any applicable contractual, award or statutory requirements.

(i) We will not tolerate any victimisation of, or retaliation against, any Employee who makes a report in good faith under this Policy. Any such conduct will itself be treated as a breach of this Policy and may result in disciplinary action.

(j) Nothing in this Policy limits any rights or obligations we or our Employees may have under any applicable law, modern award, enterprise agreement or contract of employment.

(9) IF YOU NEED MORE INFORMATION OR ASSISTANCE

Employees may contact ________ for a confidential discussion in relation to any matter arising under this Policy.

(10) ACKNOWLEDGEMENT

By signing below, the Employee acknowledges that they have read and understood this Policy, and agrees to comply with it:

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Employee Signature

________
Employee Name

________
Position

________
Date