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New conflicts of interest guidance for arts charities unveiled
09 May 2008
Arts charities in England and Wales are to be presented with new guidance to help trustees avoid conflicts of interest in the future.
The guidance, aimed particularly at trustees of charitable museums, galleries and libraries, has been drawn up by the Charity Commission in conjunction with the Department for Culture Media and Sport (DCMS).
It sets out how trustees should go about spotting and managing potential conflicts of interest.
Furthermore, it also examines the different issues that might arise including conflicts of loyalty and direct or indirect financial gain or benefit to a trustee.
Charities are also given information about when best to approach the Charity Commission for further advice or authorisation.
"It is highly likely that many arts charities will face conflicts of interest at some point," David Locke, director of charity services for the Charity Commission, said.
"When even the appearance of a conflict may damage a charity's reputation, it's important that such instances are properly handled," he added.
The joint guidance has been endorsed by the Museums, Libraries and Archives Council and approved by the Attorney General's Office.
Carrie Allen, associate in the charity team, comments: "Trustee benefit is a sensitive and sometimes unclear area for charity trustees.
"Clear guidance is always welcomed if it will assist trustees in managing actual or potential conflicts of interest.
A copy of the guidance can be found by clicking here.
To find out more about our charity legal services, or to discuss a legal matter concerning your charity or not-for-profit organisation, please contact our charity law team on 01753 279059 or email charitylaw@bpcollins.co.uk.
