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BLUE LABEL INTEGRATED ANNUAL REPORT 2015
KING III SUMMARY
CONTINUED
Chapter and principle
Comments on application
The Board should delegate certain
functions to well-structured
committees but without abdicating
its own responsibilities
The Board has appointed the following Committees to assist it
in its duties:
•
•
Investment Committee
•
•
ARCC
•
•
RNC
•
•
Social, Ethics and Transformation Committee
•
•
Exco
A governance framework should
be agreed between the Group and
its subsidiary boards
The governance framework is applied by subsidiary boards.
Companies should remunerate
Directors and executives fairly and
responsibly
The RNC is in place and assists the Board in ensuring the
Group’s remuneration policy attracts, retains and motivates
top-quality people in the best interests of the Group.
Companies should disclose the
remuneration of each individual
Director and prescribed officer
The disclosure of Directors’ remuneration meets the
requirements of the Act and this governance principle. No
additional prescribed officers identified for the current year.
Shareholders should approve the
Company’s remuneration policy
Approved at the AGM on 28 November 2014.