This concept of conflict of interest is intended to assist Entities, Work Teams, advisors, or any other relevant Person in avoiding conflicts, managing actual or potential, direct or indirect, conflicts of interest that may arise during the Privatization process, and creating a process for resolving conflicts.
An "organizational interest" is a Person's relationship or association with an organization that has an interest in the work or activity of the Kingdom. An organization can be a professional, economic, political, national, familial, or other group to which an individual has a relationship or association.
A "personal interest" is a Person's personal private interest in the work or activity of the Kingdom that is outside their professional and/or public obligation to the Kingdom. A "personal interest" can include a friend or family interest and/or a financial interest in the work or activity of the Kingdom.
A conflict of interest may occur, for example, when:
1. A Person's professional and/or public obligation to the Kingdom is, or has the potential to be, at odds with their own organizational, personal and/or financial interest.
2. A Person uses their positions, or knowledge acquired by such positions, for their personal interests or for the benefit of any of their relatives or acquaintances, and exploit the powers or influence they enjoy for personal gain, and favor their personal interest over the of public interests of the Kingdom.
3. A Person accepts, receives, offers, or requests any financial or in-kind benefits, hospitality services, or gifts from others because of their position.
A conflict of interest is not limited to these examples. A potential conflict of interest is any situation where NCP, or any independent observer, could reasonably question a Person's actions and determine that they could be influenced by incentives beyond their public responsibilities.