A conflict of interest code or amendment shall not be approved by the code reviewing body or upheld by a court if it:
(a) Fails to provide reasonable assurance that all foreseeable potential conflict of interest situations will be disclosed or prevented;
(b) Fails to provide to each affected person a clear and specific statement of that person’s duties under the code; or
(c) Fails to adequately differentiate between designated employees with different powers and responsibilities.