Compliance report

Blue Label continually monitors, researches and reports on the regulatory environment in which the Group operates. Blue Label created a compliance function to assist the organisation in discharging its legal and regulatory responsibilities. The compliance function reports to the ARCC.

Currently the process of compliance reporting encompasses:

identifying and prioritising all acts and regulations at a national level applicable to Blue Label;
incorporating regulatory requirements into control measures such as standard operating procedures or processes, manuals or policies; and
recommending corrective measures or steps to ensure compliance.

Since the establishment of the compliance function, its challenge has been to provide the Board with adequate assurance that Groupwide compliance is met.

To overcome this challenge Blue Label is introducing a compliance roadmap to formalise the structure and functioning of compliance activities and to promote the importance of compliance within the Group. The roadmap will serve as an extension of our Corporate Compliance Policy and will support the Directors, Executive Officers, management and employees in discharging their relevant compliance responsibilities.

There have been no material instances of non-compliance by the Group or its Directors identified during the past financial year.

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