Commercial Directorships Held by Faculty and Staff
Operations and General Administration
Vice-President, Finance and Resources
Authorization: Board of Governors
Approval Date: Oct 1, 1979
Reformatted: Mar 30, 2001
Amended: Apr 16, 1985
To ensure that there is no conflict of interest between staff members and organizations or companies.
Permission of the President must be obtained before a staff member agrees to serve as a Director or Officer of a company. Corporations are defined as Federal or Provincial Crown Corporations, Public Corporations, Private Corporations, and Co-operatives.
If, in the opinion of the President, there is a possibility that the association of the staff member may be used to promote the sale of the securities of a company, permission to serve may be withheld.
Because directorships are a form of public service, permission to serve on the Board of Directors of corporations will be routinely approved. This is provided that the time required in the discharge of duties does not seriously affect the University employee's duties and responsibilities.
Permission will not normally be given to serve on a Board of Directors of a public corporation selling shares to the public because of the risk that some buyers will assume that the University tacitly has approved of the corporation, which may result in adverse publicity to the University.
Directorships in ongoing corporations will be approved in the same context that other outside employment is granted. Factors considered will be the amount of time involved and the possibility of conflict of interest.
Any University employee who might be involved in a conflict of interest situation will advise the President when and if such a conflict arises.
Directorships in private corporations set up to handle consultative work, product manufacture, etc. that utilize the individual's knowledge and expertise can be approved subject to the following conditions:
The individual's right to undertake such outside employment is governed by the conditions outlined in the Faculty Information Handbook (Section 5.62)
In cases where the private corporation does business with the University or uses University equipment, facilities or services, the Dean and the President must clear the transaction. If approval is granted, it must be given in writing, and outline the detail and arrangements for each transaction.
Directorships in Co-operatives will be approved subject to the following conditions:
The amount of time involved does not interfere with the employee's University duties and responsibilities.
In the event of conflict of interest as a result of the business transaction between the Co-operative and the University, such conflict is revealed to the President.
There are no other documents associated with this policy.
Contact Person: Director, Corporate Administration