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Office Holders
2.2.4. Business and other interests
Office holders should not engage in any activities that could reasonably be regarded as interfering or being incompatible with the full and proper discharge by them of the duties of their office.
Office holders should not hold company directorships carrying remuneration. Even if remuneration is not paid, it is regarded as undesirable for them to hold directorships. A resigning director may enter into an arrangement whereby a company would agree to his/her re-appointment as a director upon ceasing to be an office holder.
An office holder should not carry on a professional practice while an office holder but may make arrangements for the maintenance of a practice until such time as s/he ceases to be an officer holder and returns to the practice.
Office holders should not take any part in the decision-making or management of the affairs of a company or practice and should dispose of, or otherwise set aside for the time-being, any financial interests which might conflict, or be seen to conflict, with their position as an office holder.
Office holders, in taking up appointments on leaving office, should be careful to avoid any real or apparent conflict of interest with the office they formerly occupied. Particular care should be taken in the first few months following departure from office. Office holders should give careful consideration to the type of occupation chosen having left office. Although it is in the public interest that former office holders are able to move into business or other areas of public life, it is equally important that there should be no cause for any suspicion of impropriety when taking up a particular appointment. In this context, office holders should act in a way which ensures it could not be reasonably concluded that an office holder was influenced by the hope or expectation of future employment with the firm or organisation concerned or that an unfair advantage would be conferred in a new appointment by virtue of, for example, access to official information the office holder previously enjoyed.
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