Cap. 588 Art. 7Conduct of affairs.

(1) The Agency shall be governed by a Board appointed in accordance with the provisions of this Act.

(2) The Board shall be responsible for the business of the Agency and for the formulation and implementation of the policy and strategy of the Agency, and shall give to the Chief Executive Officer such directions as it deems proper for the proper performance by the Agency of its functions.

(3) In particular, but without prejudice to any other duty assigned to the members of the Board, whether individually or collectively by this Act or any other law, the members of the Board shall:

(a) act honestly and in good faith and promote the best interests of the Agency;

(b) be obliged to exercise the degree of care, diligence and skill which would be exercised by a reasonably diligent person having both:

(i) the knowledge, skill and experience that may reasonably be expected of a person carrying out the same functions as are carried out by or entrusted to that Board member in relation to the Agency; and

(ii) the knowledge, skill and experience that that Board member has;

(c) not make any profit from their position, nor make personal gain or give any advantage to any third party from confidential Agency information;

(d) ensure that their personal interests are not in conflict with the interests of the Agency;

(e) not use any property or information of the Agency for their own benefit or for the benefit of any other persons, nor obtain benefit in any other way in connection with the exercise of their powers;

(f) exercise the powers they have only for the purposes for which the powers are conferred and not misuse such powers.