Members of the Royalty Review Panel are
expected to conduct their duties honestly and impartially, and
in the best interests of Albertans.
All members of the panel have signed an oath of confidentiality
and are subject to an official code of conduct that governs their
action while they are involved with the royalty review.
ROYALTY REVIEW PANEL
CODE OF CONDUCT
The Government's objective is to establish a panel of experts
with a range of experience including members with practical backgrounds
in business and the oil and gas sector. It was decided that to
avoid conflict of interest situations no member of the panel should
be currently employed by an oil and gas firm or be a director
of an oil and gas company. It is reasonable to expect that panel
members could have holdings in oil and gas and related sectors.
Members are expected to conduct their duties honestly and impartially,
and in the best interests of Albertans.
Members are required to disclose to the Minister any situation
involving them which is a conflict or an apparent conflict of
interest. Members are in conflict of interest if they:
-
take part in a
decision in the course of carrying out their duties, knowing
that the decision might further a private interest of the member,
or someone directly associated with the member,
-
use their public
role to influence or seek to influence a Government decision
which could further a private interest of the member or someone
directly associated with the member,
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either directly
or through someone directly associated with the member, obtain
or accept a fee, gift or other benefit of a material nature,
that is connected directly or indirectly with participation
in the royalty review, or
-
use or communicate
information not available to the general public that was gained
by the member in the course of carrying out his or her duties,
to further or seek to further a private interest of the member
or someone directly associated with the member.
A private interest
of a member does not include an interest that is a matter of general
application, affects a person as one of a broad class of the public
or is trivial.
Financial
Assets
Members with direct Alberta energy holdings will disclose
these holdings to the Minister of Finance. Mutual or index fund
holdings that are not energy sector-specific would not need to
be disclosed.
All members will refrain from either acquiring or disposing
of direct energy-related assets (e.g. stocks, or other equity
interest, in energy companies with business activities in Alberta)
for the duration of the review, and until the sooner of the time
that the report is made public or the Alberta government presents
a formal response to the recommendations of the Royalty Review
Panel. This does not apply to acquisitions or dispositions that
result from corporate buy-out or restructuring beyond the member’s
control.
Oath of Confidentiality
Members will swear an oath of confidentiality, indicating that
they will not, without due authorization, disclose or make known
any matter which comes to their knowledge by reason of their participation
in the Alberta Royalty Review.
Appendix
Directly Associated
| A person is “directly associated”
with a member if that person is: |
| a) |
The member’s spouse or child |
| b) |
A corporation having share capital and carrying
on business or activities for profit or gain and the member
is a director or senior officer of the corporation |
| c) |
A private corporation carrying on business or
activities for profit or gain and the member owns or is the
beneficial owner of shares of the corporation |
| d) |
A partnership having not more than 20 partners: |
| |
1) |
Of which the member is a partner, or |
| |
2) |
Of which one of the partners is a corporation directly associated
with the member by reason of clause (b) or (c) or |
| e) |
A person or group of persons acting as the agent
of the member and having actual authority in that capacity
from the member. |
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