What I could point to is the Canada Marine Act, subsection 22(1), which actually outlines duty of care as it relates to directors and officers. In there it talks about the fact that they have a vested interest in ensuring that they “act honestly and in good faith”. It does speak to the concerns that you raise in here in respect of conflict of interest. That's in the Canada Marine Act.
As well, there are elements that are contained in the letters patent if there are issues. That is there, as well as, before there are appointments, the vetting procedures that take place within the government system. Then, if there are any issues that are flagged during that tenure, it's my understanding that those are investigated, but I'd have to get back to you on the exact process by which that happens. I don't have it at my fingertips.
What I can say is that there is a requirement in the law that any officer of the court, as it relates to being a board director or other, ensures that they adhere to a certain protocol.