Pecuniary interest register
Register of interests
The Academy Trust Handbook details that an academy trust’s register of interests must capture relevant business and pecuniary interests of members, trustees, local governors of academies within a MAC and senior employees, including:
- directorships, partnerships and employments with businesses
- trusteeships and governorships at other educational institutions and charities
- for each interest: the name and nature of the business, the nature of the interest and the date the interest began
The register must identify relevant material interests from close family relationships between the academy trust’s members, trustees or local governors. It must also identify relevant material interests arising from close family relationships between those individuals and employees. ‘Close family relationships’ is defined in section 5.48 (third bullet).
Trusts should consider whether other interests should be registered. Boards of trustees should keep their register of interests up-to-date at all times.
Trusts must publish on their websites relevant business and pecuniary interests of members, trustees, local governors and accounting officers. Trusts have discretion over the publication of the interests of other individuals named on the register. The Charity Commission offers guidance in managing a conflict of interest in your charity.
Business Interests
A business interest is the involvement of an individual or their family members in any trade or profession, along with any direct interest they may have in any company providing goods or services to the school. For example, if a Governor runs their own building company or provides training courses for teaching staff.
When making a decision about what or what not to declare, the individual should consider how they may be challenged about their decision not to disclose information.
All members of the Governing Board, the Principal and senior/ staff who influence financial decisions, are expected to declare any business interests that they or any family member may have. A register of the business interests should be made available in the school and there should be an annual review of this register. In addition, where a Governor or member of staff has no business interests, they should complete a form saying ‘No interests to declare’. New Governors or members of staff, influencing financial decisions, should be asked to complete a form on joining the Governing Board or school.
Pecuniary Interests
It is a common misconception that pecuniary interests are the same as business interests; however, pecuniary interest is a wider term. Pecuniary interests include personal financial interests, such as involvement in a trust fund or investment, as well as potential interests, for example, where a member of staff’s husband is applying for a vacancy in the school or where a Staff Governor is involved in the decision over the promotion of a colleague, and where they may be a potential candidate for the post made available.
Because of the nature of these interests, they cannot only be declared annually. All members of the Governing Board and all members of staff should be made aware at Governor and staff meetings of the need to declare these interests, as they arise. Declarations should be made in writing to the Principal or the Chair of the Board or Education Standard Committee where appropriate; these should be filed in a register of pecuniary interests.
Founder Members Buiness and Pecuniary Interest
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Board Directors, ESC and Staff members Business and Pecuniary Interest
