Manage any conflicts of interest
Boards in academies can pay for goods or services provided by someone who's serving on the board.
However, the individual must not put themselves in a position where their personal interests conflict with their duty unless they're authorised to do so.
If there's a conflict, your board should assure itself that the procurement transaction:
- Is in its best interests
- Will better help it achieve its purposes
Your board must:
- Manage, and be seen to manage, any conflicts of interest that may arise
- Be open and accountable to those with an interest
This is set out in the Governance Handbook (paragraph 76, page 50).
You must also meet extra requirements in relation to related party transactions, which we'll cover below.
Make sure the relevant trustee isn't part of the procurement process for any