Article 19. Conflict of interest

Conflicts of interest in this Law are transactions and (or) operations carried out between a sponsorship organization and interested parties (employees, including officials, members of the sponsorship organizationʼs governing bodies, their close relatives or creditors, as well as legal entities and individuals who as a result of their relationship with a sponsorship organization, they may affect the organizationʼs property management and which interact with the organization in person or through their representatives in order to obtain private benefits) regarding the management of the property of a sponsorship organization that do not coincide or may not coincide with the interests and sponsorship purposes.

The conclusion of transactions by a sponsorship organization with interested parties, as well as the commission by a sponsorship organization of other actions in favor of interested parties, is permitted with the consent of the supreme governing body of the sponsorship organization.

Disputes arising in the event of a conflict of interest shall be resolved by the supreme governing body of the sponsorship organization, and upon failure to reach agreement, by the court.