PROCEDURE FOR HANDLING CONFLICTS OF INTEREST
1. The University COI Committee or the Marine Institute COI Sub-Committee, as appropriate, receives the Conflict of Interest Disclosure Form from the Unit Head, considers the particulars of the situation including the recommendation from the Unit Head and decides whether a conflict of interest exists; whether it will be allowed to continue or must be discontinued; and, if it is to be allowed, what, if any, conditions should apply.
2. The applicable COI Committee or Sub-Committee shall determine the course of action that is in the best interests of the University. In making this determination, it will take into account the following factors:
3. The COI Committee or Sub-Committee may request from the Member additional information that relates directly to and is necessary to assess and decide the real, perceived or potential conflict. The Committee may seek advice before making a decision relating to a real, perceived or potential conflict of interest.
5. In all cases, the Committee or Sub-Committee will issue a written decision to the Member who has declared the real, perceived or potential conflict of interest. The written decision will include the reasons for the decision. Where the decision is to manage the conflict, a process for doing so will be set out.
6. Once a decision has been made, Members are obliged to report any change of circumstances which could impact the initial decision in writing to the Unit Head using the Conflict of Interest Disclosure form. The original decision may be reversed or varied by the applicable COI Committee or Sub-Committee.