Board Conflict of Interest and Ethics

Home / Board Conflict of Interest and Ethics


The Board mediates conflicting interests among Commissioners, management and stakeholders.

Commissioners are required to faithfully perform their duty of loyalty toward NCST and GoM. Commissioners should not exercise their authority for their own benefit or that of a third party, and should place the interests of NCST and GoM before themselves. The duty of loyalty particularly applies when a conflict of interest arises between NCST and a Commissioner, or when a certain opportunity may be used by both of them.

When a Commissioner (as an agent of NCST) or his/her immediate family member or his professional or business partner is directly or indirectly interested in a private or professional capacity on a matter that has any economic or personal gain, or when s/he plans to engage in a transaction which is in competition with NCST, then such Commissioner is considered as having an interest.

In such cases, the Commissioner should act with the interests of the NCST before him/herself.

When a conflict arises due to a Commissioner having interests in a matter (transaction or contract), s/he should clearly disclose such interests and related important information to the Board. Unless the Board or its Committee otherwise direct, the Commissioner should not take part in any consideration or discussion of, or vote on any question touching on such matter. A disclosure of interest shall be recorded in the minutes of the meeting at which it was made.

The DG is responsible for receiving conflict of interest information from staff or consultants and take such action as s/he considers appropriate in each case and submit a report to the Board

The Secretariat takes responsibility for implementing and managing an effective compliance program relating to legal and ethical conduct. As part of its compliance program, NCST has a Code of Ethical Conduct with effective reporting and enforcement mechanisms. NCST staff have a means of seeking guidance and alerting management and the Board about potential or actual misconduct without fear of retribution. Violations of the Code are addressed promptly and effectively.

The Board expects all Commissioners, DG, Departmental Heads as well as all employees, to act ethically at all times and to adhere to the policies set forth in NCST Code of Ethical Conduct.

The Board will not permit any waiver of any ethics policy for any Commissioner or executive officer. Unethical acts committed by Commissioners, management and staff shall attract punitive measures including termination as appropriate. NCST shall also report to the relevant regulatory authorities and other relevant external stakeholders, any unethical acts performed by Commissioners, management and staff.