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An officer of a corporation is someone who is involved in making decisions that affect the business of the corporation and can greatly affect the corporation’s financial standing.
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When a corporation gives an asset or money to a person or group with a close relationship to the corporation, this is called a giving a related party a financial benefit.  
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Our relationships – with our family, friends, community and organisations – create obligations or responsibilities to others. We call these ‘interests’. You may have an interest in something:
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Learn about processes for the board to manage a conflict of interest.