The Honourable NED...
Non-Executive Directors (‘NEDs') should be ‘independent' in the sense that there is no conflict of interest between:
• the best interests of the company; and
• either the personal interests of the director or other interests that the director might also represent.
The independence of a non-executive director should be agreed by the rest of the board and the board will decide that a director is independent if: (a) they are independent in character and in judgement; and (b) there are no relationships or circumstances that might possibly create a conflict of interest and affect the director's judgement.