Conflict of Interest Policy
Directors of the North Toronto Soccer Club are bound to act honestly, in good faith and in the best interest of the club, its members, partners and supporters. Consistent with such standards of conduct, conflicts of interest and the appearance of conflicts of interest are to be avoided where possible and acted upon openly and appropriately when encountered.
The basis for a Conflict of Interest Policy is to provide for the “unconditional loyalty” of Directors, which is to keep North Toronto Soccer Club and its members best interests first in their decision-making. This includes any situation in which Directors have a private or personal interest sufficient to appear to influence the objective exercise of his/her official duties.
Each director is required upon election to the Board to acknowledge having read the OSA Conflict of Interest Policy and to sign the Conflict of Interest Statement.
Directors are responsible for informing the Secretary of the Board of Directors if any circumstances change with respect to conflicts or potential conflicts, and to amend their Conflict of Interest Statement to reflect such change.
The Club will retain signed copies of the Conflict of Interest Statement at its office.
Decision-Making Process when Conflict of Interest is Present
When a potential conflict of interest is relevant to a decision being considered by the Directors and the Executive Committee, the following process shall occur:
- The interested party shall call it to the attention of the Board
- Such person shall not be allowed to vote on the matter
- In some cases the President can request and have a majority vote by the Board to determine if such person should leave the room and shall not participate in the final deliberation. However, prior to their exiting, questions may be asked of her/him
- A contract or transaction shall be considered binding if the interest is disclosed and the Board approves, authorizes or ratifies the action in good faith by a majority of directors (not counting the interested board member) at a meeting where a quorum is present.
After this action, the official Minutes shall reflect that these requirements have been met.