Conflict Of Interest| Law

     Conflict of interest means incompatibility between once interest and his public duties. Once person shall be deemed to have an interest in a matter, this interest must give rise to conflict between his duties to perform his function.

Sec 16, 17 SECP Act 1997  A real incompatibility between once private interest and his public duty. Means the act or process of making interest that was previously unknown . Following are the two condition for disclosure of interest a.     Disclosure before discussion of matter b.    Disclosure must be in writing.

A disclosure of interest shall be recorded in minutes of commission.

Following are the effects of disclosure of effect

a.     No participation in decision

b.    Disregarded from constituting quorum.

He shall be declare guilty of an offence

i.                   Imprisonment upto one year.

ii.                 Fine upto one millon

iii.              Or both

a.     Non awareness of fact b.    Due care was exercised Commissioner to disclosure to writing to federal government

     Chairman shall serve a notice to federal government on disclosure by commissioner. He shall disclosure his interest to the person concern in the matter including any person whose application is pending.  The chairman or the commissioner who has any interest in the matters and he has disc louse his interest shall not take part deterring matter. He can take part with consent of all concerned person.