Background

Maintaining a Register of Business and Pecuniary Interests is an important part of effective governance and helps to promote openness, transparency and accountability.

Governors, trustees, academy committee members, associate members and other relevant individuals should declare any business, financial or personal interests that could influence, or be perceived to influence, their decision-making.

The register should be reviewed at least annually and updated whenever an individual's circumstances change.

Why is a Register of Interests Important?

A Register of Interests helps governing boards and trust boards to:

• Identify and manage actual, potential or perceived conflicts of interest.
• Demonstrate transparency and accountability.
• Protect the integrity and reputation of the board.
• Support effective decision-making.
• Meet statutory, regulatory and governance expectations.

Who Should Complete a Declaration?

The register should be completed and maintained for:

Maintained Schools

• Governors
• Associate Members

Academies and Free Schools

• Trustees
• Members (where required by the trust)
• Local Governors or Academy Committee Members
• Associate Members

Boards may also choose to record relevant interests for senior leaders where appropriate.

What Should be Declared?

Declarations should include, where applicable:

• Employment and professional roles.
• Directorships, trusteeships and governorships.
• Business ownership or partnerships.
• Financial interests in organisations connected with the school or trust.
• Relationships with school, trust or governance personnel.
• Contracts, services or suppliers connected to the school or trust.
• Any other interest that could give rise to a conflict, or the perception of a conflict.

Reviewing and Publishing the Register

The governing board or trust board should ensure that:

• Declarations are collected on appointment.
• The register is reviewed and updated annually.
• Changes are recorded promptly throughout the year.
• Relevant interests are declared at meetings where agenda items may give rise to a conflict.
• Publication requirements are met in line with statutory and regulatory guidance.

Templates

The following templates are available:

Maintained Schools

• Register of Business and Pecuniary Interests Template

Academies and Free Schools

• Register of Business and Pecuniary Interests Template

Additional Resources

• Declaration of Interests Form
• Annual Review of Interests Template
• Managing Conflicts of Interest Guidance

Related Documents

• Code of Conduct
• Terms of Reference
• Instrument of Government (maintained schools)
• Articles of Association (academy trusts)
• Scheme of Delegation
• Governance Handbook

Further Information

Boards should ensure that all relevant interests are declared and managed appropriately. Having an interest does not prevent an individual from serving on a governing board or trust board; however, interests should be disclosed and any conflicts managed in accordance with the board's agreed procedures and relevant governance requirements.