I think what's key is to actually review the act.
The SDTC act states within it that they would like to have people who have deep expertise in the area. At the time SDTC was created, which was 20 years ago, there was a very narrow group of individuals who it might be applicable to appoint to the board of directors.
Today the pool is much broader. I think the bar for conflict of interest could be much higher, as you have spoken about. That would be something the committee could consider and recommend changing in the act.