The directors of Forest and Wood Products Australia Limited (FWPA) recognise the importance of identifying, declaring and dealing with any possible conflict of interest situation that could arise in their role as directors. Apart from conflict of interest that can arise in the normal course of business, it is particularly important given the role that many directors have in other sectors of the forest and wood products industry.
Directors have a general duty to avoid any actual or potential conflict between their own interests and those of the company, and between their duty to the company and their duties to third parties. There is a potential conflict of interest where a reasonable person, looking at the relevant facts and circumstances, would consider there to be a real sensible possibility of conflict. The Board has in place a process whereby relevant interests of all directors are disclosed on appointment and a Declaration of Directors’ Interests table is provided with each set of Board papers.
