What does fiduciary responsibility mean?

Fiduciary means a person who holds a position of trust or responsibility including decision-making powers relating to the affairs of an organisation. The persons accepting fiduciary responsibility are determined by the type of organisation seeking approval as a PBO: A NPC may elect the incorporators or directors. A trust may elect the persons acting as trustees. An association of persons may elect the office bearers. NOTE: No single person may directly or indirectly control the decision making powers of an organisation.
Last Updated: 07/11/2019 5:16 PM     print this page
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