This template has been adapted from the website of the Australian Charities and Not-For-Profits Commission (ACNC). It is for the purpose of meeting ACNC Governance Standard 5, which is as follows:
An organisation must take reasonable steps to make sure that its Responsible People are subject to, understand, and carry out the duties set out in Governance Standard 5. These duties include:

• to act with reasonable care and diligence
• to act honestly and fairly in the best interests of the charity and for its charitable purposes
• not to misuse their position or information they gain as a Responsible Person
• to disclose conflicts of interest
• to ensure that the financial affairs of the charity are managed responsibly, and
• not to allow the charity to operate while it is insolvent.

Related Party transactions are those between an organisation and its related parties. ACNC advises that a "related party" can be a person or organisation such as:

• those with a significant influence over the charity’s strategy and finances (including board members or executive officers, rather than operational managers), and close members of their families (such as a parent, partner, sibling, or child), and
• organisations with a significant influence over the charity (for example, an organisation that appoints one of the members of the board of the charity).