The Charities Act requires that you have a conflict of interest procedure in place to ensure that trustees  act in the best interests of the charity and do not use their position as trustee to their own personal benefit. 
 
This includes having a policy and procedure for dealing with conflicts, a declaration of interests form and an annual register and this file contains all three documents for you to use in your setting.
 
The policy outlines the different types of conflict and has a procedure for dealing with these should they arise.
 
The register of interests form should be completed annually by all trustees declaring anything which may be a conflict on a recurring basis. This might include employees acting as trustees who have a conflict of interest when it comes to their employment.
 
The declaration of interests form is to be used by trustees when an occasion arises where an agenda item causes a conflict of interest which may have not been recorded on the annual register because it's a one off situation.