the code of corporate governance for bangladesh

8/12/2019 The Code of Corporate Governance for Bangladesh

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Code of Corpor!e Go"er##$e for B#%&de'( )

TABLE OF CONTENTS

A$*#o+ed%ee#!' .

Pre/&e 0

Me/er' of !(e T'*for$e o# Corpor!e Go"er##$e 1

Code of Corpor!e Go"er##$e 23

Bord I''4e' 22

Roe of S(re(oder' )2

F5##$5 Repor!5#%, A4d5!5#% #d No#-F5##$5 D5'$&o'4r e' )6

Se$!or-Spe$5f5$ Pro"5'5o#'7 F5##$5 I#'!5!4!5o#' #d SOE' .3

F5##$5 I#'!5!4!5o#' .2

S!!e-O+#ed E#!erpr5'e' .8

E9(or!!5o#' !o O!(er E#!5!5e' 03

B'5$ C(e$*5'! for Ipee#!!5o# of !(e Code of Corpor!e Go"er##$e 0)

NGO Go"er##$e Pr5#$5pe' 00

Re'o4r$e' ::

Appe#d5$e' :1

C44!5"e Vo!5#%7 A Br5ef De'$r5p!5o# :;

Spe S(re(oder'< H#d/oo* 12

Spe Co#!e#!' of # A##4 Repor! 16



Code of Corpor!e Go"er##$e for B#%&de'( .

ACKNOWLEDGEMENTS

I# A4%4'! )33., B#%de'( E#!erpr5'e I#'!5!4!e =BEI> 5#"5!ed #4/er of pro5#e#!

5#d5"5d4' fro !(e pr5"!e 'e$!or, !(e %o"er#e#!, NGO' #d o!(er ree"#! /od5e' !o

/e%5# !(e pro$e'' of for4!5#% Code of Corpor!e Go"er##$e for B#%de'(

Co#"e#5#% !(5' T'*for$e o# Corpor!e Go"er##$e +' # o4!$oe of BEI<' o#%o5#%

re'er$( #d d"o$$? +or* o# '!re#%!(e#5#% $orpor!e %o"er##$e 5# B#%de'(

Me/er' of !(e T'*for$e pro"5ded e''e#!5& %45d#$e #d d5re$!5o# !o !(e de"eope#!

of !(e Code I# dd5!5o#, d5'!5#%45'(ed %4e'! e9per!' 5#"5!ed !o $er!5# T'*for$e

ee!5#%' pro"5ded 5#"4/e 5#p4! #d e9per!5'e o# 'pe$5f5$ 'pe$!' #d 'e$!5o#' of !(e

Code A'o, %re!? ppre$5!ed for e#d5#% !(e5r "4/e !5e #d e#$o4r%ee#! !o !(e

pro@e$! re Dr F*(r4dd5# A(ed, Go"er#or of !(e B#%de'( B#*, Mr M4(ed

A5 R4ee, Dep4!? Go"er#or of B#%de'( B#*, #d Dr M5r A54

I', C(5r# of !(e Se$4r5!5e' #d E9$(#%e Co5''5o#, of +(o offered'5%#5f5$#! 5#'5%(! #d $oe#!' !o !(e Code

M#? !(#*' re 'o d4e !o !(e 5#!er#!5o# do#or' !(! ''5'!ed 5# or%#5'5#% !(e

T'*for$e o# Corpor!e Go"er##$e #d '4ppor!ed 5!' +or*7 #e?, !(e Depr!e#! for

I#!er#!5o# De"e&ope#! =DFID>, !(e Coo#+e!( Se$re!r5! #d !(e G&o/&

Corpor!e Go"er##$e For4 =GCGF>

F5#?, !(e T'*for$e +' ''5'!ed #d '4ppor!ed 5# e"er? +? /? !(e B#%de'(

E#!erpr5'e I#'!5!4!e Wor*5#% Gro4p 5# !(e drf!5#% of !(e Code, +(5$( $o4d #o!

("e /ee# $ope!ed +5!(5# '4$( '(or! !5e-fre, 5f #o! for !(e (rd +or* of !(5'

ded5$!ed %ro4p T(e Wor*5#% Gro4p +' $(5red /? Froo So/(#,Pre'5de#! of BEI T(e pr5r? drf!er of !(e Code +' We#d? Wer#er, +(5e

o'ep(5#e O%4! ed !(e effor! !o for4!e !(e 'e$!5o# of !(e Code o# NGO Go"er##$e

O!(er e/er' of !(e Wor*5#% Gro4p +ere S(ee R(#, Y+er S?eed, N5(d

/5r, R'(5d A(d #d Adee/ (# T(e %ro4p 'o re$e5"ed d"5$e fro Ad##

W(ed #d A/d4( A& M4# o# F5##$5 I#'!5!4!5o#' A#? R(#

#d R'(5d A(d 'pe#! #? (o4r'

proofred5#% !o (ep f5#5e !(e do$4e#! F5#?, M5$(e G5&&5/r#d 'er"ed '

5#!er#!5o# $o#'4!#! !o !(e pro@e$! #d pro"5ded 4#f55#% feed/$*, re'o4r$e', #d

''5'!#$e o# 5#!er#!5o# /e'! pr$!5$e' of $orpor!e %o"er##$e



Code of Corpor!e Go"er##$e for B#%&de'( 0

PREAMBLE

Before !4r#5#% !o !(e 'pe$5f5$ pro"5'5o#' of !(e pre'e#! Code of Corpor!e

Go"er##$e, !(ree f4#de#! 4e'!5o#' '(o4d /e e95#ed

re%rd5#% Code' of Corpor!e Go"er##$e 5# %e#er #d !(e

B#%de'( Code 5# pr!5$4r F5r'!, +(! 5' !(e f4#$!5o# of Code of Corpor!e

Go"er##$e Se$o#d, (o+ $# '4$( Code /e 5pee#!ed T(5rd, +(! 5' !o /e

%5#ed fro !(e 5pee#!!5o# of Code of Corpor!e Go"er##$e

T(e o/"5o4' f4#$!5o# of Code of Corpor!e Go"er##$e for B#%de'( 5' !o 5pro"e

!(e %e#er& 45!? of $orpor!e %o"er##$e pr$!5$e' T(e Code doe' !(5' /? def5#5#%

/e'! pr$!5$e' of $orpor!e %o"er##$e #d 'pe$5f5$ '!ep' !(! or%#5'!5o#' $# !*e !o

5pro"e $orpor!e %o"er##$e T(e Code, !(ere/?, /e%5#' !o r5'e !(e 45!? #d e"e

of $orpor!e %o"er##$e !o /e e9pe$!ed fro or%#5'!5o#' 5# 'oe re' !(e Code

'pe$5f5e' ore '!r5#%e#! pr$!5$e' !(# 5' re45red /? B#%de'(5 +, /4! 5! '(o4d /e ep('5'ed !(! !(e'e dd5!5o# re45ree#!' re 5# *eep5#% +5!( 5#!er#!5o#

/e'! pr$!5$e' E"e# 5f ' or%#5'!5o#' do #o! fee !(e? $# ee!

!(e re45ree#!' 5ed5!e?, !(e Code pro"5de' '!#drd !(! $# /e 4'ed !o

e'4re pro%re'' !o+rd' !(e %o of /e'! pr$!5$e'

T(e Code of Corpor!e Go"er##$e, !(erefore, pre'$r5/e' !(e pr5#$5pe', pro$ed4re' #d

pro$e'' !(ro4%( +(5$( /e!!er $orpor!e %o"er##$e pr$!5$e' ? %rd4? /e

5#!rod4$ed A' '4$(, !(e Code 5' or%#5'ed 5#!o Pr5#$5pe' #d G45de5#e' Or%#5'!5o#'

$# '!r! o# !(e p!( !o /e!!er $orpor!e %o"er##$e f5r'! /? $*#o+ed%5#% !(e Pr5#$5pe'

of Corpor!e Go"er##$e #d !(e# /? 5#$orpor!5#% !(e !(ro4%( !(e5r o+# 5#5!5

5pee#!!5o# '!r!e%5e', +(5$( !(e? 4'! #e"er!(ee'' @4'!5f? #d e9p5# T(e #e9!'!ep +o4d /e !o /e%5# $op?5#% f4? +5!( !(e G45de&5#e' for 5pee#!!5o#, ' 'e! o4!

5# !(e Code, +(5$( repre'e#! # ppropr5!e '?#!(e'5' of 5#!er#!5o# #d 5#d5%e#o4' /e'!

pr$!5$e' !(! re +(o? pp5$/e !o !(e B#%de'(5 $o#!e9!

M#? of !(e /e'! or%#5'!5o#' 5# B#%de'( red? ("e pr$!5$e' #d pro$ed4re'

5# *eep5#% +5!( !(e pro"5'5o#' of !(e Code Ho+e"er, !(e Code 5' 'o

e$(#5' !o d5''e5#!e !(e'e /e'! pr$!5$e' !o or%#5'!5o#' #!5o#+5de

Moreo"er, !(e /e'! $orpor!e %o"er##$e pr$!5$e', ' e#'(r5#ed 5#

!(e Code, $# 5pro"e o"er&& $$o4#!/55!? #d perfor#$e

!(ro4%(o4! !(e pr5"!e 'e$!or ' +e ' !(e NGO #d SOE 'e$!or' F5#?, !(e

'p5r5! of !(e Code 'ee*' !o e#/e or%#5'!5o#' !o %ro+ #d !!r$! %re!er 5#"e'!e#!,r!(er !(# /e5#% (5#dr#$e !o %ro+!(

T(e 'e$o#d 4e'!5o# !o $o#'5der 5' (o+ !(e Code of Corpor!e Go"er##$e $# /e

5pee#!ed F4 5pee#!!5o# of !(e Code e#5#% f4 $op5#$e !(ro4%(o4!

!(e pr5"!e, NGO #d SOE 'e$!or' +5 4#do4/!ed? !*e #4/er of ?er' #d +5

re45re !(e $ooper!5o# of "'! #4/er of ree"#! '!*e(oder' Ho+e"er, #4/er of

!(e Code<' Pr5#$5pe', G45de5#e' #d pro"5'5o#' $# /e 5#$orpor!ed 5#!o !(e de$5'5o#-

*5#% pro$e'' of *e? 5#'!5!4!5o#' #d 5# fr5#% #e+ po5$5e' 5ed5!e&?

A "5! e9pe7 '5#$e /#*' re !(e pr5r? 'o4r$e of $p5! 5# B#%de'(, o'!

effe$!5"e +? !o /e%5# pp?5#% !(e Code 5' for /#*' !o '* $5e#! f5r' !o e9p5# !(e5r




$op5#$e +5!( !(e Code of Corpor!e Go"er##$e Cop#5e' !(! $#

deo#'!r!e 'o4#d $orpor!e %o"er##$e pr$!5$e', ' e#'(r5#ed 5# !(e Code,

'(o4d re$e5"e prefere#!5 /orro+5#% f$55!5e', o#% o!(er po''5/e /e#ef5!' A

f"o4r/e 5#!ere'! r!e 5' @4'!5f5ed for $op#5e' +5!( '!ro#% $orpor!e %o"er##$e '5#$e!(e'e or%#5'!5o#' re 5/e !o $rr? o+er &e"e&' of /4'5#e'' r5'* F4r!(erore,

$red5! r!5#% %e#$5e' '(o4&d 5#$4de $orpor!e %o"er##$e 5# !(e5r r!5#%' #d $o4d, 5#

f4!4re, prod4$e '!#d- o#e $orpor!e %o"er##$e r!5#%'

I#d5"5d4 or%#5'!5o#' $# $op? +5!( !(e Code /? +r5!5#% !(e pro"5'5o#' 5#!o

!(e5r Ar!5$e' of A''o$5!5o# #d 5#$orpor!5#% !(e Code 5#!o $op#? pro$ed4re'

#d repor!5#% pr$!5$e' M#%ee#! #d !(e Bord of D5re$!or'

'(o4d 4'e !(e Code of Corpor!e Go"er##$e ' %45de5#e !o de"eop

pro$ed4re' for e"4!5o# #d $$o4#!/55!? +5!(5# !(e or%#5'!5o# A&&

or%#5'!5o#' '(o4d de"eop Code of Co#d4$! for !(e5r epo?ee' A epo?ee'

'(o4d red, 4#der'!#d, #d '5%# !(e Code of Co#d4$! !(eref!er, "5o!5o#' of !(5' Code ofCo#d4$! '(o4d /e pe#&5'ed

T(e o'! effe$!5"e re%4!or? '!ep !o 5pee#! !(e Code of Corpor!e Go"er##$e $o4d

/e 5!' dop!5o# /? !(e Se$4r5!5e' #d E9$(#%e Co5''5o# S4$( '!ep $o4d /e%5#

+5!( $op? or e9p5#< p('e, +(5$( re45re' # or%#5'!5o# !o $op? +5!(

!(e Code<' pro"5'5o#', /4! 5f !(ere re 'pe$!' 5# +(5$( !(e or%#5'!5o# doe' #o! $op?

!(e re'o# for '4$( #o#-$op5#$e 4'! /e e9p&5#ed A' (' /ee# !(e $'e 5# #?

o!(er $o4#!r5e', !(e Code $o4d 'o /e 5#$orpor!ed 5#!o !(e 5'!5#% re45ree#!' of !(e

D(* #d !(e C(5!!%o#% S!o$* E9$(#%e' A

$op5e#!r? re45ree#! +o4d /e $op4'or? d5re$!or

!r5#5#% for !(e Bord of D5re$!or' of 5'!ed $op#5e' BEI<' Wor*5#% Gro4pfor !(e T'*for$e o# Corpor!e Go"er##$e (' '54!#eo4'? /ee# +or*5#% o# #

A%e#d for Refor of Corpor!e Go"er##$e, !r%e!5#% po5$5e', 5#'!5!4!5o# #d

e% refor' !(! $# e#/&e !(e %ro+!( of ore !r#'pre#! #d $$o4#!/e

$orpor!e 'e$!or Ho+e"er, !(e f5r'! '!ep $# #d '(o4d /e !(e 5#5!5!5"e of

$orpor!5o#' #d or%#5'!5o#' !(e'e"e', !(ro4%( !(e 5pee#!!5o# of !(5' Code

T(e f5# 4e'!5o# 5' o#e of re+rd #d /e#ef5! fro 5pee#!!5o# of !(e Code U'5#%

!(e Code !o '!re#%!(e# $orpor!e %o"er##$e pr$!5$e' $# #o! o#? /e#ef5! 5#d5"5d4

or%#5'!5o#', /4! 'o !(e 'pe$5f5$ 'e$!or' ddre''ed /? !(5' Code, ' +e ' !(e #!5o#

' +(o&e Cop#5e' !(! deo#'!r!e 5#!er#!5o# '!#drd $orpor!e %o"er##$e

pr$!5$e' re /e!!er /e !o !!r$! %re!er $p5! fro /#*' #d e45!? 5#"e'!or' S4$($op#5e' +5 'o !!r$! !(e /e'!-45f5ed profe''5o#' !o +or* 5# !(e5r or%#5'!5o#'

T(e'e 5p&5$5! re+rd' +5 ed 5# !4r# !o ore e9p5$5! /e#ef5!'7

'4$$e''f4 or%#5'!5o# +5!( (5%(er prof5!'

A' for !(e $o4#!r? $o#!e9!, !(ere re #4ero4' po!e#!5 /e#ef5!' #d re+rd' for

B#%de'( /? 5pro"5#% $orpor!e %o"er##$e pr$!5$e' T(e pr5r? #d o'!

5por!#! /e#ef5! fro 5pee#!5#% !(e Code of Corpor!e Go"er##$e,

(o+e"er, pro//? &5e' 5# !!5#5#% #d '4'!5#5#% de"eope#! %o' '!re#%!(e#5#%

$orpor!e %o"er##$e $o4d, ! !(e #!5o# e"e, ed !o pro$e'' of re"5!5'!5o#

of !(e B#%de'(5 e$o#o? If !(e Code $# /e

f4? 5pee#!ed, 5# p4/5$ $orpor!5o#', @o5#! '!o$* =pr5"!e> $op#5e', '!!e-o+#ede#!erpr5'e' =SOE'>, #d #o#-%o"er#e#!&




or%#5'!5o#' =NGO'>, !(e rep4!!5o# of B#%de'( ' de'!5#!5o# for 5#"e'!e#!

#d 5d +5 /e %re!? e#(#$ed Prod4$5#% #!5o# Code 'e#d' e''%e !o

5#"e'!or' #d o/'er"er' !(! B#%de'( (' re$o%#5'ed !(e 5por!#$e of $orpor!e

%o"er##$e #d 5' !*5#% def5#5!e '!ep' !o 5pro"e 5!' $orpor!e %o"er##$e perfor#$e

A' '4$(, 5pee#!!5o# of pro%re of

$orpor!e %o"er##$e $# *e '5%#5f5$#!

$o#!r5/4!5o#' !o e$o#o5$ %ro+!(

F5r'!, # e$o#o? +5!( 'o4#d '?'!e' of $orpor!e %o"er##$e +5 /e re+rded

+5!( ore 5#"e'!e#! #d (5%(er 45!? 5#"e'!or' 45!e '5p?, 5pro"5#%

$orpor!e %o"er##$e +5 5pro"e !(e o"er rep4!!5o# of B#%de'( ' p$e !o do

/4'5#e'' T(5' 5# !4r# +5 5pro"e !(e 5#"e'!e#! $5!e #d !(e pro'pe$!' for

e$o#o5$ %ro+!( Good $orpor!e %o"er##$e pr$!5$e', ' e#'(r5#ed 5# !(5' Code,

+5 ed !o +e- %o"er#ed, ore prof5!/&e $op#5e' !(! re $#d5d!e' for /o!(

fore5%# #d doe'!5$ 5#"e'!e#! I! 5' +e e'!/5'(ed !(!5#!er#!5o# 5#"e'!or', e'pe$5? por!fo5o 5#"e'!or', $o#'5der $orpor!e %o"er##$e

#e$e''r? prere45'5!e for 5#"e'!e#!

Se$o#d, $orpor!e %o"er##$e '?'!e' $# /e!!er e#/e !(e $p5! r*e!, pr5"!e

5#"e'!or', 5#!er#!5o# do#or' #d f5##$5 5#'!5!4!5o#' !o 5de#!5f? #d f4#d '4$$e''f4

e#!erpr5'e' T(ro4%( f4&& #d !r#'pre#! d5'$o'4re' '4$( e#!erpr5'e' $# /e!!er /e

5de#!5f5ed, #d /? pp?5#% !(e $o#$ep!' of $$o4#!/55!? !(e5r perfor#$e $# /e ore

$$4r!e? e'4red T(5' $# /4! re'4! 5# ore eff5$5e#! o$!5o# of $p5!

!o prof5!/e e#!erpr5'e'

T(5rd, /? 5de#!5f5$!5o# of /e!!er perfor5#% e#!erpr5'e', #d !(ere/? oreeff5$5e#! o$!5o# of $p5!, $orpor!e %o"er##$e $# ed !o %re!er e$o#o5$

%ro+!( /? e#/5#% !(e $o4#!r? !o 955'e !(e re'o4r$e' 5! (' Corpor!e

%o"er##$e $# !(erefore ed !o (5%(er e"e' of eff5$5e#$?, 45!?, #d

$ope!5!5"e#e'' !(ro4%(o4! !(e #!5o# e$o#o?, +(5$( 5# !4r# +5 e#/e B#%de'(

!o re$( 5!' %o' for po"er!? e"5!5o#

Fo4r!(, $4!4re of $orpor!e %o"er##$e +5 /e%5# !o ddre'' !(e per"'5"e $orr4p!5o#

!(! 5' $r5pp5#% !(e B#%de'(5 e$o#o? #d de"eope#! ' +(oe T(e Pr5#$5pe',

G45de5#e' #d pr$!5$e' pre'$r5/ed 5# !(e Code of Corpor!e Go"er##$e #d !(e NGO

Code of Go"er##$e re /'o4!e? 5#$op!5/e +5!( #? '?'!e!5$ pr$!5$e

of $orr4p!5o#, /r5/e' #d *5$*/$*' B? pp5$!5o# of !(e Code, /o!( !(e5#'!5%!or' #d re$5p5e#!' of $orr4p!5o# +5 /e !r%e!edT(5' 5' #o! !o '4%%e'! !(!

!(e Code of Corpor!e Go"er##$e $# '5p? e55#!e deep-roo!ed $4!4re of

$orr4p!5o# #? o!(er $opee#!r? refor' re #e$e''r?, of $o4r'e Ho+e"er,

$orpor!e %o"er##$e $# /e%5# !(e refor pro$e''

I# '(or!, $orpor!e %o"er##$e $# /e $!?'! for $(#%e, for (5%(er e$o#o5$ %ro+!(,

for ore eff5$5e#! 4'e of re'o4r$e', for pr5"!e 'e$!or !(! 5' $$o4#!/e !o 5#"e'!or'

#d 'o$5e!?, for red4$!5o# 5# $orr4p!5o#, #d for (e!(? 5#fo+ of f4#d' fro

doe'!5$ #d fore5%# 5#"e'!or'



Code of Corpor!e Go"er##$e for B#%&de'( :

A f5# #o!e %oe' !o !(e for #d '!r4$!4re of !(e Code of Corpor!e Go"er##$e T(e

Code +' de"eoped, ' (' /ee# e#!5o#ed, +5!( !(e $o#!r5/4!5o# of !(e T'*for$e o#

Corpor!e Go"er##$e, #d +5!( 5#!e#'5"e $o#'4!!5o# +5!( o!(er Code' of Corpor!e

Go"er##$e #d 5#!er#!5o# e9per!' o# $orpor!e %o"er##$e O!(er 5#!er#!5o# #d

#!5o# Code' #d Pr5#$5pe' of Corpor!e Go"er##$e +(5$( ("e /ee# $o#'4!ed

5#$4de7 !(e Co/5#ed Code =U>, !(e OECD Corpor!e Go"er##$e Pr5#$5pe', !(e

Coo#+e!( A''o$5!5o# for Corpor!e Go"er##$e G45de5#e', !(e 5#% Repor!

=So4!( Afr5$>, !(e Sr5 L#* Ce#!r B#* Code, !(e CII Code of De'5r/e Corpor!e

Go"er##$e =I#d5>, !(e P*5'!# Code of Corpor!e Go"er##$e, !(e M?#er' Repor!

=U>, !(e M?'5# Code of Corpor!e Go"er##$e, #d "r5e!? of 5#'!5!4!5o#

5#"e'!or $ode' fro !(e U#5!ed S!!e' T(e Code of Corpor!e Go"er##$e

for B#%de'( !!ep!' !o dr+ o# 5#!er#!5o# /e'! pr$!5$e', ' e#'(r5#ed 5# !(e

/o"e- e#!5o#ed do$4e#!', $o/5#ed (o+e"er +5!( !(e '5!4!5o# #d $o4#!r?

'pe$5f5$' of B#%de'( 5# order !o def5#e $orpor!e %o"er##$e ' fr ' po''5/e 5#

# 5#d5%e#o4' $o#!e9!

T(e Code 5' or%#5'ed 5#!o 'e$!5o#' o# 'pe$5f5$ !op5$' =Roe of S(re(oder',

Bord I''4e', e!$> W5!(5# e$( 'e$!5o#, !(e Code 'e!' o4! #4/er of

Pr5#$5pe' #d G45de5#e' E$( Pr5#$5p&e e9p5#' !(e 4#der?5#% "4e or

!e##! of $orpor!e %o"er##$e pr$!5$e' T(e'e Pr5#$5pe' of Corpor!e Go"er##$e

? /e pp5ed 5# d5ffere#! or%#5'!5o#' /? "r5o4' d5ffere#! e!(od' T(4', +(5e

!(e G45de5#e' '4%%e'! 'pe$5f5$ e!(od' for pp5$!5o#, !(e Code ' +(oe o+'

for e$( or%#5'!5o# !o pp? !(e Pr5#$5pe' 5# !(e5r o+# +? Or%#5'!5o#' 'oe?

5pee#!5#% !(e Corpor!e Go"er##$e Pr5#$5pe' /? !(e5r o+# e!(od, #e"er!(ee'',

'(o4d pro"5de e9p#!5o#' !o '(re(oder' #d !(e p4/5$ ' !o (o+ e9$!? !(e'e re

pp5ed 5# !(e5r pr$!5$e', po5$5e', re%4!5o#' #d pro$ed4re' To f4? $op?+5!( !(e Code, (o+e"er, or%#5'!5o#' '(o4d 5pee#! /o!( !(e Pr5#$5pe' #d G45de&5#e'

Corpor!e %o"er##$e 5' @o4r#e?, #o! de'!5#!5o# #d 5! 5' (oped !(! !(5' do$4e#!

+5 pro"5de %45d#$e for /e%5##5#% !(! @o4r#e? 5# B#%de'( Ho+e"er, ' !(e

$orpor!e e#"5ro#e#! de"eop' 5# B#%de'(, !(e Code of Corpor!e Go"er##$e +5

#eed !o /e dp!ed !o ddre'' #e+ de"eope#!' T(erefore, !(e Code of Corpor!e

Go"er##$e +5 /e re"5e+ed #d re"5'ed foo+5#% !(e f5r'! !+o !o !(ree ?er' of

5pee#!!5o# #d pp5$!5o#, #d !(eref!er ' !(e #eed r5'e'




MEMBERS OF THE TASKFORCE ON CORPORATE GOVERNANCE

Prof. Abu AhmedChairman

Bangladesh Shilpa Bank

Mr. Muzaffar Ahmed

President and CEOCredit Rating Information and Seri!es"imited

Mr. Shah Md. #urul AlamManaging $ire!tor

Prime Bank "imited

Mr. C. M. Alam

Managing $ire!tor Industrial Promotion and $eelopmentCompan% of Bangladesh "imited

Mr. &ali ur Rahman Bhui%anManaging $ire!tor

BOC

$r. 'oufi( Ahmed Choudhur%

Professor and $ire!tor Bangladesh Institute of Bank Management

Mr. A. )uadir Choudhur%

Managing $ire!tor Phoeni* "easing Compan%

Mr. Abdul Mu%eed Cho+dhur%E*e!utie $ire!tor

BRAC

Mr. Samson ,. Cho+dhur%

ChairmanS(uare -roup of Companies

Mr. Monzurul ,a(ueChairman

AIMS of Bangladesh

Mr. A. ,. M. Moazzem ,ossainEditor

inan!ial E*press

$r. Shamsul ,u(

/i!e Chan!ellor

Cit% 0niersit%

Mr. S%ed 1ousuf ,ussainormer Comptroller and Auditor -eneral

$r. Mirza Azizul Islam

ChairmanSe!urities and E*!hange Commission

Mr. Mahbubul 2arimSenior /i!e PresidentProshika

Mr. Anis A. 2hanCEO 3 Managing $ire!tor

Industrial $eelopment "easing Compan% of Bangladesh "imited

Mr. M. ,afiz 0ddin 2hanormer Comptroller and Auditor -eneral

Chair4 Publi! E*penditure Reie+

Commission

Mr. $hira5 Malakar6oint Se!retar%

Ministr% of Industries

Mr. M.A. Malikormer ,igh Commissioner

Mr. &ali7ul Maroof Matin

Chief E*e!utie Offi!erChittagong Sto!k E*!hange

Mr. A. S. M. Mainuddin Monem$ire!tor inan!e

Abdul Monem "td. 8Igloo and Milk 0nit9

Mr. Sira5 0llah

Controller Bangladesh Chemi!al IndustriesCorporation

Mr. A. 2. M. Muktadir

Senior /i!e PresidentInstitute of Chartered Se!retaries andManagers of Bangladesh

Mr. 'apan 2. Podder Managing $ire!tor Prime inan!e and Inestment "imited

Mr. Aminur Rahman Additional

$ire!tor -eneral $ire!torate of

Inspe!tion 8'a*es9



Mr. Abdur RashidPresident

Institute of Cost and Management

A!!ount ants of Bangladesh

$r. ,aroon7ur Rashidormer SEC Chair

Mr. M. S%eduzzamanChairmanBank Asia "td.

$r. ,amid 0ddin Asso!iate Professor

Institute of Business Administration

Mr. Mohammad 1ousuf Additional

$ire!tor -eneral Monitoring Cell4

Ministr% of inan!e

$r. M. :ahir

Senior Ado!ateSupreme Court

Mr. Mohammad Abdul ,annan :oarder

E*e!utie $ire!tor Se!urities and E*!hange Commission

Mr. Mahbub 6amilPresidentoreign Inestors; Chamber of Commer!e

Mr. asih 0ddinirst Se!retar% 8In!ome 'a*9

#ational Board of Reenue

Mr. A. 2. -ulam 2ibria

2ibria 3 Co.8immediate past ICAB President9

MEMBERS OF THE WORKING GROUP

Mr. aroo( Sobhan 8Chair9President

Bangladesh Enterprise Institute

Ms. &end% &erner

Senior Resear!h Asso!iate 3Pro5e!t Coordinator Bangladesh Enterprise Institute

Ms. Rashida Ahmad

Resear!h Asso!iate 3 Assistant Pro5e!t Coordinator Bangladesh Enterprise Institute

Ms. #ihad 2abir Ado!ateSupreme Court of Bangladesh

Mr. Adeeb ,. 2han

Partner Rahman Rahman ,u(

Ms. 6osephine Oguta

Corporate -oernan!e Spe!ialistBoards; Consult

Ms. Sheela R. Rahman Ado!ateSupreme Court of Bangladesh

Mr. 1a+er Sa%eed

Managing $ire!tor 3 CEO

AIMS of Bangladesh

Advisors

Mr. Adnan &ahedCOO3

Mr. Abdullah Al7MamunManager4 Complian!e and Control

,ongkong and Shanghai Banking

Corporation 8,SBC9




THE

CODE OF CORPORATE GOVERNANCE

FOR

BANGLADESH

Mr$( )330




BOARD ISSUES

T(e Bord of D5re$!or' 5' !(e $e#!r e#!5!? 5# f4#$!5o#5#% $orpor!e %o"er##$e '?'!e,

'5#$e 5! 5' !(e %o"er#5#% /od? of #? or%#5'!5o# T(e /ord 5' $$o4#!/e !o !(e

'(re(oder' #dJor '!*e(oder' of !(e or%#5'!5o# To ee! 5!' or%#5'!5o#

o/@e$!5"e' !(e /ord 4'! pro"5de '!r!e%5$ po5$? #d d5re$!5o# !o !(e #%ee#!, /4!

'(o4d #o! /e 5#"o&"ed 5# d?-!o-d? oper!5o# de$5'5o#' M#%ee#! 5' $$o4#!/e

!o !(e /ord, #d !(erefore 5#for!5o# '?'!e' !(! pro"5de ree"#!, !r#'pre#!, #d

!er5 5#for!5o# !o !(e /ord re 5per!5"e

I#d5"5d4 /ord' 4'! f5#d !(e /e'! +? !o dp! !(e %45de5#e' #d re45ree#!' of !(e

Code !o !(e5r or%#5'!5o#' T(e pro"5'5o#' of !(e Code ? /e 5#$orpor!ed 5#!o

Bord C(r!er !(! def5#e' !(e o/@e$!5"e', roe', #d re'po#'5/55!5e' of !(e /ord To

e"4!e !(e /ord<' o+# pro%re'' !o+rd' 5!' %o', /ord ppr5' '?'!e $o4d /e5pee#!ed T(e pro"5'5o#' of !(e Code e#$o4r%e /ord' !o /e$oe ore pro$!5"e

#d effe$!5"e /? !r5#5#% d5re$!or' 5# $orpor!e %o"er##$e #d !(e5r re'po#'5/5&5!5e'

I. Mission of !" Bo#$% of Di$"&o$s

P$in&i'(")

T(e Bord of D5re$!or' '(o4d ed #d o"er'ee '!r!e%? #d po5$? of !(e $op#? #d

pro"5de d5re$!5o# !o !(e #%ee#! Bord $!5o#' '(o4d /e 5# !(e /e'! 5#!ere'!' of !(e$op#? #d '(re(o&der'

II. D*i"s of !" Bo#$%P$in&i'("s)

T(e Bord of D5re$!or' '(o4d def5#e 5!' roe #d @o/ re'po#'5/55!5e' T(e fo&&o+5#%5#$4de !(e @or re'po#'5/55!5e' of !(e /ord7

A Ser"e !(e e%5!5!e 5#!ere'!' of !(e '(re(oder' #dJor o+#er' #d $$o4#! !o

!(e f4&&? A d5re$!or' repre'e#! '(re(oder' d5"er'5!? '(o4d #o! /e

5'5#!erpre!ed ' repre'e#!5#% $o#'!5!4e#$5e' D5re$!or' '(o4d e#'4re !(! !(e

$op#? $o4#5$!e' effe$!5"e? +5!( '(re(oder', po!e#!5 '(re(oder', #d

o!(er '!*e(o&der'

2 A#? $o4#5$!5o# of !er5 5#for!5o# '(o4d /e de p4/5$

rp5d? or '54!#eo4'? !o '(re(oder' #d 5#"e'!or', 'o !(!

$4rre#! #d po!e#!5& 5#"e'!or' ("e # e4 oppor!4#5!? !o $!o# '4$( 5#for!5o#

B E#'4re !(! !(e $op#? $op5e' +5!( ree"#! +' #d re%4&!5o#',

5#$4d5#% !(e $4rre#! Code of Corpor!e Go"er##$e, #d o!(er $ode' of /e'! /4'5#e'' pr$!5$e

C De!er5#e, o#5!or, #d e"4!e '!r!e%5e', po5$5e', #%ee#! perfor#$e

$r5!er5, #d /4'5#e'' p&#'D Ide#!5f? #d o#5!or *e? r5'* re' #d perfor#$e 5#d5$!or' of !(e e#!erpr5'e

E E#'4re !(! !e$(#oo%? #d 5#for!5o# '?'!e' 4'ed 5# !(e or%#5'!5o# re

'4ff5$5e#! !o oper!e !(e or%#5'!5o# effe$!5"e? #d 5#!5# $ope!5!5"e#e''



Code of Corpor!e Go"er##$e for B#%&de'( 2)

F Re"5e+ #d o#5!or r5'* #%ee#! '?'!e' #d 5#!er# $o#!ro e$(#5'' !o

e#/e de$5'5o# *5#% #d 5#!5# !(e $$4r$? of f5##$5 re'4&!'

G T(e Bord of D5re$!or' '(o4d ppo5#! !(e M#%5#% D5re$!orJ C(5ef E9e$4!5"e

Off5$er #d pr!5$5p!e 5# !(e ppo5#!e#! of 'e#5or #%ee#! T(e /ord

'(o4d e'!/5'( perfor#$e $r5!er5 #d e"4!e !(e perfor#$e of

!(e MDJCEO T(e /ord '(o4d 'o e#'4re !(! !(ere 5' '4$$e''5o# p# for

'e#5or #%ee#! #d !(e MDJCEO

III. Bo#$% M"+,"$s!i' C$i"$i#

P$in&i'("s)

A E$( d5re$!or '(o4d /e +e-45f5ed !o $rr? o4! !(e5r d4!5e' E$( d5re$!or

'(o4d /e /e #d prepred !o de"o!e '4ff5$5e#! !5e #d effor! !o (5' or(er d4!5e' ' d5re$!or

B D5re$!or' '(o4d e$( dd "4e !o !(e /ord #d /r5#% 5#depe#de#! @4d%ee#! !o /er o# !(e5r d4!5e'

G*i%"(in"s)

C To e#'4re d5re$!or (' '4ff5$5e#! !5e !o 4#der!*e (5' or (er d4!5e', #5#d5"5d4 d5re$!or '(o4d #o! (od d5re$!or'(5p' 5# ore !(# 8 /ord'

2

D D5re$!or' +(o ("e #o! !!e#ded ! e'! 63K of !(e /ord ee!5#%' =+5!(o4!

e"e of /'e#$e> d4r5#% !(e '! ?er '(o4d #o! /e e5%5/e for re-ee$!5o# !o !(e

/ord

IV. No+in#ion of N"- Bo#$% M"+,"$s

P$in&i'(")A W(e# #o5#!5#% #e+ d5re$!or', '(re(oder' #d !(e /ord '(o4d $o#'5der !(e

59 of d5re$!or $(r$!er5'!5$', e9per5e#$e', d5"er'e per'pe$!5"e' #d '*5' !(! 5'o'! ppropr5!e for !(e or%#5'!5o#

G*i%"(in"s)

B A No5#!5o# Co5!!ee of !(e Bord 5' #o! re45red !o $rr? o4! !(e #o5#!5o#

pro$e'', /4! ? /e o#e e!(od !o 'ee* o4! #d #o5#!e 45f5ed per'o#' for

d5re$!or'(5p' A #o5#!5o# $o5!!ee, (o+e"er, '(o4d #o! pre$&4de

'(re(oder' fro /e5#% $!5"e pr!5$5p#!' 5# !(e #o5#!5o# pro$e''C S(re(oder' '(o4d ("e # oppor!4#5!? !o #o5#!e /ord $#d5d!e' /efore !(e

No!5$e of !(e A##4 Mee!5#% S4ff5$5e#! !5e =! e'! )2 d?'> '(o4d /e pro"5ded 5# %e#er #o!5$e !o '(re(oder' !o o+ !(e !o or%#5'e !(e5r#o5#!5o# of d5re$!or'

2 T(e /ord or #o5#!5o# $o5!!ee '(o4d ree'e 5'! of re45red5#for!5o# !(! 4'! /e '4/5!!ed +5!( d5re$!or #o5#!5o# T(e

re45red 5#for!5o# '(o4d 5#$4de 45f5$!5o#', ed4$!5o#,

2A# 5#'!5!4!5o# or 5#'!5!4!5o# 5#"e'!or =%o"er#e#! , pro"5de#! f4#d, e!$> $# /e repre'e#!ed o#

#4ero4' /ord', fr 5# e9$e'' !o 8 Ho+e"er, '5#%e 5#d5"5d4 =' #o5#ee of !(e 5#'!5!4!5o#> '(o4d #o!

(od

ore !(# 8 d5re$!or'(5p', 'o !(! !(e? ("e '4ff5$5e#! !5e !o de"o!e !o !(e5r 5#d5"5d4 d4!5e' ' d5re$!or



Code of Corpor!e Go"er##$e for B#%&de'( 2.

e9per5e#$e, $4rre#! d5re$!or'(5p', #d #? 5#!ere'!' 5# !(e $op#?

T(e re45red 5#for!5o# $# /e 4'ed !o $opre d5re$!or $#d5d!e'

) C#d5d!e' #o5#!ed /? /o!( !(e '(re(oder' #d !(e /ord, o#%

+5!( !(e re45red 5#for!5o# o# e$( $#d5d!e, '(o4d /e p4! /efore

!(e AGM for e&e$!5o#. B? e#/5#% '(re(oder #o5#!5o# of d5re$!or $#d5d!e', d5re$!or'

$# /e$oe ore d5re$!? !(e repre'e#!!5"e' of '(re(o&der'

V. T$#inin

P$in&i'(")

A Cop#5e' '(o4d re$o%#5'e !(! d5re$!or'(5p 5' profe''5o# ppo5#!e#! #d

!(erefore !(e? '(o4d pro"5de oppor!4#5!5e' #d f4#d' for !r5#5#% of 5#d5"5d4

d5re$!or' #d !(e de"eope#! of !(e /ord

G*i%"(in"s)

B Ne+ #d $o#!5#45#% d5re$!or' +o4d /e#ef5! fro d5re$!or !r5#5#% pro%re'

!(! 5#$re'e !(e5r '*5' #d *#o+ed%e o# d5re$!or'< 5/55!5e', /e'!

/ord pr$!5$e', #d '!r!e%5$ p##5#% Ne+ d5re$!or' '(o4d /e re45red !o

!!e#d $orpor!e %o"er##$e or5e#!!5o# or !r5#5#% offered /? rep4!ed

5#'!5!4!5o# or !r5#er

VI. S"'#$#ion of C!#i$+#n #n% CEO

P$in&i'(")

T(e po'5!5o#' of C(5r# of !(e Bord #d CEO '(o4d /e f5ed /? d5ffere#! 5#d5"5d4'

'5#$e !(e5r f4#$!5o#' re #e$e''r5? 'epr!e A '!ro#%, 5#depe#de#! $(5r# pro"5de'!(e ppropr5!e $o4#!er/#$e #d $(e$* !o !(e po+er of !(e M#%5#% D5re$!orJ CEO

VII. Bo#$% Co+'osiion

P$in&i'("s)

A To e#'4re +e-f4#$!5o#5#% #d 5#"o"ed /ord, !(e '5e of !(e /ord '(o4d /e

r%e e#o4%( !o 5#$4de d5re$!or' +5!( d5"er'e e9per!5'e #d e9per5e#$e, /4!'(o4d #o! /e !oo r%e !o e#/e 5#"o"ee#! /? d5re$!or' T(e /ord '(o4d

per5od5$? re"5e+ 5!' '5e #d $opo'5!5o#

B A# 5por!#! +? for !(e /ord !o pro"5de $!5"e, 4#/5'ed, #d d5"er'e d"5$e !o'e#5or #%ee#! 5' !o ("e d5"er'e %ro4p of d5re$!or', 5#$4d5#%

e9e$4!5"e d5re$!or', #o#-e9e$4!5"e d5re$!or', #d o4!'5deJ5#depe#de#! d5re$!or')

G*i%"(in"s)

C I#!er#!5o#?, '4$$e''f4 $orpor!e /ord' ("e e/er'(5p of : !o 26 d5re$!or'D Cop#5e' '(o4d r!5$4!e #d 5pee#! #o5#!5o# pro%re !o e#/e

@or5!? of /ord e/er' !o /e #o#-e9e$4!5"e #d 5#depe#de#!

d5re$!or'

)E9e$4!5"e d5re$!or' re !(o'e !(! $o#$4rre#!? (od 'e#5or #%ee#! po'5!5o# 5# !(e $op#? No#-

e9e$4!5"e d5re$!or' re '5p? d5re$!or' !(! do #o! $4rre#!? (od po'5!5o# +5!( !(e or%#5'!5o# for +(5$(

!(e? 'er"e o# !(e /ord I#depe#de#! or o4!'5de d5re$!or' re !(o'e +(o do #o! ("e epo?e#!, f55,

f5##$5, or o!(er !5e' !o !(e $op#?




E No#-e9e$4!5"e d5re$!or' '(o4d /e 5#$4ded 5# #? $o5!!ee' #d !'*ed +5!(

#? de$5'5o#' !(! 5%(! 5#"o"e $o#f5$! of 5#!ere'!

F For !(e Bord of D5re$!or' !o re$( 4or4, @or5!? of #o#-e9e$4!5"e

or 5#depe#de#! d5re$!or' 4'! /e pre'e#!

G T(ere '(o4d /e #d!or? re!5ree#! /? ro!!5o# of )3K of !(e /ord of p4/5$ $op#5e' !(e "$#$5e' !o /e f5ed ! !(e AGM

H T(e !er 55! for d5re$!or' of /#*' #d o!(er f5##$5 5#'!5!4!5o#' '(o4d /e

954 of 2) ?er' T(5' +o4d pp? e4? !o 'po#'or d5re$!or'.

VIII. Bo#$% Co+'"ns#ion

P$in&i'(")

Bord $ope#'!5o#0

'(o4d /e '4ff5$5e#! !o $ope#'!e d5re$!or' for !(e !5e #d effor!re45red !o $ope!e !(e5r d4!5e' +e T(5' 5' e'pe$5? 5por!#! !o #4r!4re

profe''5o# d5re$!or'

I/. Bo#$% A"n%#

P$in&i'("s)

A T(e %e#d #d !er5' for e$( /ord ee!5#% '(o4d /e pro"5ded !o d5re$!or'

'4ff5$5e#!? 5# d"#$e of !(e /ord ee!5#% !o o+ !(e !o prepre #d pro"5ded '4/'!#!5 5#p4! #d $oe#!' o# %e#d 5!e'

B T(e Bord A%e#d '(o4d /e prepred /? !(e C(5r# of !(e Bord, +(o '(o4&d

'o de!er5#e !(e !er5' for !(e /ord ee!5#%', #d /ord pper' !o /e or%#5'ed #d $5r$4!ed /? !(e Cop#? Se$re!r?

G*i%"(in"s)C T(e foo+5#% 5#for!5o# '(o4d /e repor!ed !o, #d p$ed /efore, !(e /ord7

2 A##4 oper!5#% p#' #d /4d%e!', !o%e!(er +5!( 4pd!ed o#% !er

p#'

) Cp5! /4d%e!', #po+er, #d o"er(ed /4d%e!'. 4r!er? re'4!' for !(e $op#? ' +(oe #d 5!' oper!5#%

d5"5'5o#' or /4'5#e'' 'e%e#!'

0 I#!er# 4d5! repor!', 5#$4d5#% 'pe$5f5$, !er5 $'e' of !(ef! #d5'$o#d4$!

6 S(o+ $4'e, de#d, #d pro'e$4!5o# #o!5$e' re$e5"ed fro re"e#4e4!(or5!5e' +(5$( re !er5? 5por!#!

6

8 F! or 'er5o4' $$5de#!' #d #? eff4e#! or po4!5o# pro/&e': Def4! 5# p?e#! of 5#!ere'! or pr5#$5p o# #? p4/5$ depo'5!,

'e$4red $red5!or, or f5##$5 5#'!5!4!5o#

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R OLE OF SHAREHOLDERS

T(5' 'e$!5o# of !(e Code of Corpor!e Go"er##$e pp5e' pr5r5? !o p4/5$ $op#5e'

(o+e"er #? of !(e 'e pr5#$5pe' of !r#'pre#$? #d $$o4#!/55!? re ree"#! !o

pr5"!e $op#5e' !(! ("e 5#or5!? '(re(oder' P4/5$ 5'!ed $op#5e' '(o4d

$op? +5!( && e% #d re%4!or? re45ree#!' 'oe, /4! #o! , of

!(o'e re45ree#!' re (5%(&5%(!ed +5!(5# !(5' Code O!(er pro"5'5o#' of !(e Code

'4%%e'! !(! $op#5e' %o /e?o#d !(e e% re45ree#!' !o f4r!(er epo+er !(e5r

'(re(oder' E95'!5#% re%4!or? /od5e' 'o ("e #d!e !o 4p(od !(e r5%(!' of

'(re(oder', +(5e '(re(o&der' !(e'e"e', 5# !4r#, ("e re'po#'5/55!? !o d"o$!e

%ood $orpor!e %o"er##$e pr$!5$e' 5# $$ord#$e +5!( 5#!er#!5o# /e'! pr$!5$e

Le% pro"5'5o#' for '(re(oder' r5%(!' re, for !(e o'! pr!, de4!e 5# B#%de'(

Ho+e"er, o'! '(re(oder' re #o! +re of !(e5r r5%(!' or (o+ !o e9er$5'e !(e I#dd5!5o#, !(e? of!e# 5'4#der'!#d !(e5r f4#$!5o# ' '(re(oder', fo$4'5#% 5#'!ed o#

!(e $oror? /e#ef5!' of '(re o+#er'(5p ='4$( ' !!e#d5#% !(e AGM 5# #5$e

o$!5o#> r!(er !(# !(e '4/'!#$e of $op#? #%ee#! B? /e$o5#%

epo+ered #d 4#der'!#d5#% !(e5r r5%(!', '(re(oder' !(e'e"e' +5 for$e $op#?

/ord' !o /e$oe ore $$o4#!/e for !(e5r $!5o#' #d $op#? perfor#$e

A' !(e 5# re# for $o4#5$!5o# /e!+ee# '(re(oder', #%ee#! #d !(e Bord

of D5re$!or', !(e AGM 5' "er? 5por!#! eee#! of $orpor!e %o"er##$e AGM'

'(o4d pro"5de # oppor!4#5!? for 'oe d5'$4''5o# of '4/'!#$e #d o+ for !(e

'(re(oder' !o ''er! !(e5r r5%(!' re%rd5#% !(e %e#d 5!e' !(e? re '*ed !o ppro"e

T(ere re, of $o4r'e, 55!' !o !(e /55!? of r%e ee!5#% of d5"er'e '(re(oder'!o pro"5de 'pe$5f5$ feed/$* !o !(e /ord, /4! !(e for! of !(e ee!5#% '(o4d e'!/5'(

!(e f$! !(! !(e Bord of D5re$!or' 5' $$o4#!/e !o !(e '(re(oder' #d !(!

5por!#! 5!e' for '(re(oder $o#'5der!5o# '(o4d /e e9p5#ed $&er&?

A! !(e pre'e#! !5e, 5# B#%de'(, @or pro/e ffe$!5#% re!5o#' /e!+ee#

'(re(oder', /ord', #d #%ee#! 5' !(e d5'r4p!5o# #d $o#!ro of AGM' /? fe+,

or%#5'ed 5#d5"5d4&' A&& '(re(oder' ("e !(e r5%(! !o 4e'!5o# !(e Bord of D5re$!or'

re%rd5#% !(e /ord<' $!5o#' #d re'po#'5/55!5e', /4! !(e $4rre#! $5!e o+' fe+

'(re(oder' !o e9pre'' !(e5r op5#5o#' If, (o+e"er, !(e @or5!? of '(re(oder'

4#der'!#d !(e5r r5%(!' #d 4#der'!#d !(e *e? 'pe$!' of $op#? '!r!e%? #d

perfor#$e, !(e? $# d5'!5#%45'( e%5!5!e $op5#!' #d 4e'!5o#' fro !(o'e !(! rede'5%#ed !o d5'r4p! !(e? $# pr!5$5p!e ore f4? 5# !(e AGM #d $# 5#!5#

!(e fo$4' o# $op#? perfor#$e, !r#'pre#$? #d /ord $$o4#!/55!? More

ed4$!ed '(re(oder' +5, +5!( !5e, ed !o ore "5/e, $!5"e $p5! r*e!

Pro//? !(e o'! 5por!#! r5%(! of '(re(oder 5' !(e r5%(! !o "o!e for d5re$!or' #d o#

5!e' p4! /efore %e#er ee!5#%' Vo!5#% r5%(!' #d pro$ed4re' '(o4d /e $er?

e9p5#ed !o '(re(o&der' 'o !(e? ? f4? ''er! !(e5r r5%(!' 5# %e#er ee!5#%'

Vo!5#% pro$ed4re' !(! re d5ff5$4! !o foo+ or do #o! $$o4#! for 4&!5p&e

'(re(od5#%' re'4! 5# d5'e#fr#$(5'ee#! of '(re(oder' S(re(oder' '(o4d /e /&e



Code of Corpor!e Go"er##$e for B#%&de'( ))

!o e9er$5'e !(e5r "o!5#% r5%(!' !(ro4%( pro9? 5f !(e? $##o! !!e#d %e#er

ee!5#% !(e'e"e'

I. S!#$"!o(%"$s H#n%,oo7

P$in&i'(")

A Ed4$!5#% #d 5#for5#% '(re(oder' '(o4d /e /'5$ re45ree#! for &5'!ed

$op#5e'

G*i%"(in"s)

B A pr5r? $o#$er# 5# B#%de'( 5' !(! '(re(oder' do #o! *#o+ or 4#der'!#d

!(e5r r5%(!' #d re'po#'5/55!5e' To ddre'' !(5' pro/e, 5'!ed $op#5e'

!o%e!(er +5!( !(e Se$4r5!5e' #d E9$(#%e Co5''5o# #dJor '!o$*

e9$(#%e' '(o4d de'$r5/e #d e9p5# !(o'e r5%(!' #d re'po#'5/55!5e' 5#

S(re(oder'< H#d/oo* !(! '(o4&d /e "5/e !o '(re(oder' +5!( !(e#o!5$e for !(e AGM

C T(e S(re(oder'< H#d/oo* '(o4d 'o /e $$e''5/e !o '(re(oder' /? *5#%

5! "5/e o# !(e +e/'5!e' of !(e SEC, '!o$* e9$(#%e', #d 5#d5"5d4$op#?<' +e/'5!e #d ! !(e $op#?<' off5$e'

D See ppe#d59 for 'pe o4!5#e of S(re(oder'< H#d/oo*

II. G"n"$#( M""ins;

P$in&i'("s)

A T(e %e#er ee!5#%', 5# pr!5$4r !(e AGM, re !(e pr5r? for for

$o4#5$!5o# /e!+ee# '(re(oder', #%ee#! #d !(e Bord of D5re$!or'

S(re(oder' '(o4d /e +e-5#fored re%rd5#% %e#er ee!5#%'#d !(e ee!5#% '(o4d /e or%#5'ed 5# ##er !(! o+'

for 954 '(re(oder pr!5$5p!5o#, '4/@e$! !o re'o#/e 55!!5o#',

#d e45!/e !re!e#! of '(re(oder'

B T(e o4!$oe #d pro$eed5#%' of %e#er ee!5#%' '(o4d /e re$orded #d /e "er5f5/e

C S(re(oder' ("e !(e r5%(! !o re$e5"e 5#for!5o# /o4! $op#? re'o&4!5o#',

de$5'5o#', #d oper!5o#' de'$r5/ed 5# ##er !(! $# /e 4#der'!ood /?

?per'o# Cop#5e' '(o4d e9p5# d5'$o'4re' 5# de!5 #d pro"5de

5#for!5o# /o4! !(e effe$! of '4$(

G*i%"(in"s)D A #o!5$e !o '(re(oder' re%rd5#% !(e d!e, !5e #d o$!5o# of !(e A##4

Ge#er Mee!5#% '(o4d /e %5"e# 5# '4ff5$5e#! !5e for 5! !o /e re$e5"ed /?

'(re(oder' !(ro4%( '!#drd #d re'o#/e e#' of $o4#5$!5o# ! &e'!)2 d?' /efore !(e ee!5#%

23 T(e #o!5$e of !(e AGM '(o4d 5#$4de 5#for!5o#

/o4! !(e %e#d 5!e' !o /e d5'$4''ed, 5#$4d5#% de'$r5p!5o# of 4d5!or

;A %e#er ee!5#%< $# refer !o e5!(er # ##4 %e#er ee!5#% =AGM> or # e9!rord5#r?

%e#er ee!5#% =EGM>23

No!e !(! !(e Code %oe' /e?o#d +(! 5' pro"5ded 5# !(e Cop#5e' A$!, !o %5"e '(re(o&d er' ore !5e

!o prepre for !(e AGM



Code of Corpor!e Go"er##$e for B#%&de'( ).

$#d5d!e', d5re$!or $#d5d!e', #d !(e !e9! of propo'ed re'o4!5o#' T(e

5#for!5o# pro"5ded /o4! !(e %e#d 5!e' for #? %e#er ee!5#% '(o4d

/e de!5ed e#o4%( !o o+ '(re(oder' !o *e # 5#fored de$5'5o# T(e

%e#d '(o4d /e pre'e#!ed 5# !(e order 5!e' +5 /e ddre''ed 5# !(e ee!5#%

2 T(e AGM #o!5$e '(o4d 5#for '(re(oder' of !(e re%5'!er ofd5re$!or'< 5#!ere'!' 5# $o#!r$!' or rr#%ee#!' of !(e $op#? #d

!(e5r r5%(! !o 5#'pe$! '4$( re%5'!er

E A# AGM '(o4d /e '$(ed4ed 'o ' #o! !o $o#f5$! +5!( @or e"e#!' +(5$( ?

(5#der !(e pr!5$5p!5o# of o'! '(re(oder' #d '(o4d /e (ed 5# $o#"e#5e#!

o$!5o# 5# !(e "5$5#5!? of !(e $op#?<' re%5'!ered off5$eF A%e#d of # AGM

2 A# AGM '(o4d ord5#r5? d5'$4'' !(e foo+5#% %e#d 5!e'7

Appro" of M5#4!e' of !(e pre"5o4'ee!5#% / Adop!5o# of !(e D5re$!or'< Repor!

$ Adop!5o# of !(e A4d5!or'< Repor!d Appro" of D5"5de#d'e Appo5#!e#! of A4d5!or'

f Ee$!5o# of D5re$!or') S(re(oder' '(o4d ("e # oppor!4#5!? !o p$e dd5!5o# re&e"#!

5!e' o# !(e %e#d for !(e AGM pr5or !o !(e AGM ee!5#%

. D4r5#% !(e AGM, !(ere '(o4d /e # oppor!4#5!? for '(re(oder' !o4e'!5o# !(e Bord of D5re$!or', '4/@e$! !o re'o#/e 55!!5o#' T(e

Bord of D5re$!or' '(o4d re'po#d !o '(re(oder 4e'!5o#'0 A%e#d 5!e' '(o4d /e $ope!ed 5# !5e? ##er !o e#'4re !(!

4or4 of '(re(oder' 5' pre'e#! for !(e e#!5re ee!5#%

III. Voin Ri!s #n% D*i"s

P$in&i'("s)

A I# e'!/5'(5#% !(e "o!5#% pro$ed4re' #d r5%(!' for p4/5$ $op#5e', !(e

pr5#$5pe of o#e '(re, o#e "o!e '(o4d %45de e"er? p4/5$ $op#? W5!(5#

$'' of '(re', '(re(oder' '(o4d ("e !(e 'e "o!5#% r5%(!'

I#for!5o#

re%rd5#% !(e "o!5#% r5%(!' of $''e' of '(re' '(o4d /e "5/e !o po!e#!5

'(re(oder'B To e#fr#$(5'e #d f$55!!e "o!5#% /? '(re(oder', pro9? "o!5#% r4e' '(o4d /e

'5pe #d e'? !o foo+ Re'!r5$!5o#' o# ppo5#!5#% pro95e' '(o4d /e+5!(dr+# or red4$ed !o +5de# !(e pr!5$5p!5o# ! AGM'

C Re%rde'' of !(e e!(od of "o!5#% =pro9? or ! ee!5#%>, "o!e' '(o4d /e$o4#!ed #d !(e re'4!' de$&red

D S(re o+#er'(5p $rr5e' d4!5e' ' +e ' r5%(!', #d 5! 5' e9pe$!ed !(! &&

'(re(oder' '(o4d e9er$5'e !(e5r r5%(! !o "o!e T(e de$5'5o# #o! !o "o!e '(o4d

/e re$o%#5'ed ' # e#dor'ee#! of !(e $!5o#' of !(e /ord #d

#%ee#! S(re(oder' '(o4d 'o e9er$5'e !(e5r r5%(!' 5# $o#'5dered

#d ppropr5!e ##er




G*i%"(in"s)

E A /o! pro$ed4re r!(er !(# po =(#d $o4#!> ore $$4r!e? $$o4#!' for

4!5pe '(re(o&d5#%'F Cop#5e' ? +5'( !o $o#'5der !er#!5"e for' of "o!5#% !(! per5! #

or%#5'ed %ro4p of 5#or5!? '(re(oder' !o ee$! d5re$!or T(5' $o4d 5#$&4de$44!5"e "o!5#% ='ee Appe#d59 for # e9p#!5o# of $44!5"e "o!5#%>

Co++"n#$1

A!(o4%( pro!e$!5o# for 5#or5!? '(re(oder' re @4d%ed !o /e de4!e 5#

B#%de'(, ore $o4&d /e do#e !o o+ 5#or5!? '(re(oder' !o p$e d5re$!or o#

!(e /ord !o 'er"e ' # 5#depe#de#! "o5$e repre'e#!5#% 5#or5!? '(re(oder' For

!(5' re'o#, $44!5"e "o!5#% 5' e#!5o#ed ' po''5/e !er#!5"e "o!5#% e!(od

C44!5"e "o!5#%+o4d #o! %4r#!ee !(! 5#or5!? %ro4p $o4d ee$! d5re$!or, /4! 5! o+' for #

or%#5'ed %ro4p of '(re(oder' !o do 'o

Vo!5#% /? '(o+ of (#d' $o4d ffe$! !(e 5#depe#de#$e of "o!er' '

5#or5!? '(re(oder' ? fee 5#!55d!ed /?

po+erf4 #o5#ee'J'(re(oder' Bo!' ? e#'4re

free #d f5r "o!5#% ' +e ' $$4r!e? refe$! 4!5pe '(re(o&d5#%'




FINANCIAL R EPORTING AUDITING ANDNON8FINANCIAL DISCLOSURES

F5##$5 repor!5#% #d d5'$o'4re' pro"5de !(e !oo' /? +(5$( '!*e(oder' $#

o#5!or #d e"&4!e # or%#5'!5o#<' $orpor!e %o"er##$e pr$!5$e' I# B#%de'(,

!(e f5r'! (4rde !(! 4'! /e o"er$oe 5' !o 5pro"e !(e 45!? #d rep4!/55!? of

f5##$5 '!!ee#!' #d d5'$&o'4re' T(5' pro$e'' 4'! /e @o5#! 4#der!*5#% of !(e

re%4!or', 'ef-re%4!or? or%#5'!5o#' =pr5r5&? !(e I#'!5!4!e of

C(r!ered A$$o4#!#!' of B#%de'( ICAB>, #d or%#5'!5o#'

!(e'e"e' If $op#5e' /e%5# !o de#d ore fro !(e5r o+# $$o4#!5#% per'o##e

#d !(e5r 4d5!or', !(e 45!? of $$o4#!' #d 4d5!' +5 5pro"e

S54&!#eo4'&?, !(e $$o4#!5#% profe''5o# 4'! fo$4' o# e#'4r5#%

$op5#$e +5!( 4d5! '!#drd', e#for$5#% 'ef-re%4!5o#, #d 5#$re'5#% !(e #4/er of

45f5ed C(r!ered A$$o4#!#!' T(e'e !+o o"ee#!' $# /e f4r!(er $op5e#!ed /?

'4ppor!5#% $!5o#' o# !(e pr! of re%4&!or' S4$( $o/5#!5o# of refor' +5 $re!e "5r!4o4' $5r$e of 45!? d5'$o'4re' #d 5#$re'e de#d fro 5#"e'!or' for ore

!r#'pre#! f5##$5 '!!ee#!' A$$o4#!5#% #d 4d5!5#% '$#d&' ro4#d !(e +ord 5#

re$e#! ?er' ("e '(o+# (o+ 5por!#! !(5' profe''5o# 5' !o 'fe%4rd 5#"e'!or f4#d' #d

e#'4re !r#'pre#$? W5!(o4! refor, !(e $orpor!e 'e$!or 5# B#%de'( ? /e (ed5#%

!o+rd' '4$( d5''!er' ' +e<"e 'ee# 5# o!(er re%5o#' ! !(e "er? e'!, !(e $$o4#!5#%

#d 4d5!5#% profe''5o# +5 o'e $red5/55!? #d pre'!5%e

I. A&&o*nin S#n%#$%s

P$in&i'(")

A Cop#5e' '(o4d e#'4re !(! !(e5r $$o4#!' $o#for +5!( B#%&de'(

A$$o4#!5#% S!#drd' =BAS> ' dop!ed /? !(e I#'!5!4!e of C(r!ered A$$o4#!#!'of B#%de'( =ICAB> #d !(e 5pee#!!5o# !5e fre %5"e# /? ICAB

G*i%"(in"s)

B Cop#5e' !(! re '!r5"5#% !o $o#for !o 5#!er#!5o# '!#drd' '(o4d prepre

#d ("e !(e5r $$o4#!' 4d5!ed !o $o#for +5!( f4 I#!er#!5o# A$$o4#!5#%

S!#drd' =IAS> A $op#? !(! 5' +or*5#% !o $op? +5!( IAS '(o4d e'!/5'( !5e5#e /? +(5$( !5e $op5#$e +5 /e $(5e"ed

C Ao#% !(e IAS' !(! ("e /ee# dop!ed /? ICAB, !(o'e 5'!ed /eo+ re

pr!5$4r? 5por!#! !o e#'4re $$4r!e #d re5/e f5##$5 repor!5#%, /4! !(e

e"e of $op&5#$e +5!( !(e 5' o+ Cop#5e' '(o4d $op? +5!( !(e

foo+5#% '!#drd'72 IAS 2) Deferred T9, e!$

) IAS 21 Re"e#4e. IAS )2 Effe$!' of $(#%e' 5# fore5%# e9$(#%e r!e'

0 IAS ). Borro+5#% Co'!'6 IAS )6 A$$o4#!5#% for I#"e'!e#!

8 IAS ): Co#'o5d!ed F5##$5 S!!ee#!'

: IAS .3 D5'$o'4re' 5# f5##$5 '!!ee#!' of /#*'1 IAS .0 I#!er5 F5##$5 Repor!5#%




II. P$"'#$#ion of A&&o*ns

P$in&i'(")

A Cop#5e' 4'! epo? 45f5ed per'o##e +5!( profe''5o# $$o4#!5#%45f5$!5o#' !o prepre f5##$5 '!!ee#!' #d $$o4#!'

G*i%"(in"s)

B L5'!ed $op#5e' +5!( !4r#o"er of ! e'! T* )3 $rore =T* )33 55o#> 4'!

epo? 45f5ed per'o##e +5!( profe''5o# $$o4#!5#% 45f5$!5o#' +5!(

! e'! f5"e ?er' of e9per5e#$e 5# prepr!5o# of $$o4#!' #dJor

C(r!ered A$$o4#!#!, Co'! #d M#%ee#! A$$o4#!#!, or o#e ("5#% ! e'!

'!er' de%ree or MBA 5# Coer$e or F5##$e

C T(e B#$e S(ee! #d Prof5! #d Lo'' S!!ee#! '(o4d /e re"5e+ed #d '5%#edoff /? !(e C(5r# of !(e Bord, MDJCEO

22#d C(5ef F5##$5 Off5$er

=CFO>

2)

#d !(e C(5r# of !(e A4d5! Co5!!ee =5f o#e e95'!'> !o $er!5f? !(!72 T(e $$o4#!' refe$! !r4e #d f5r p5$!4re of !(e $op#?,) T(e $$o4#!' $o#for +5!( BAS or, 5f !(e? do #o!, d5'$o'4re ('

/ee# de of !er5 d5ffere#$e', #d

. T(ere re #o po'! /#$e '(ee! e"e#!' or off-/#$e '(ee! 5!e',

#o#- d5'$o'4re of +(5$( $# ffe$! !(e /55!? of !(e 4'er' of !(e

f5##$5 '!!ee#!' !o e"4!e !(e $op#? or *e de$5'5o#'0 A''e!' re 'fe%4rded %5#'! 4#4!(or5'ed 4'e /? !(e ep&o?ee'

#dJor #%ee#! #dJor !(5rd pr!5e'

6 E9pe#'e' 5#$4rred re for !(e p4rpo'e' of !(e $op#?<' /4'5#e''8 No !er5 5#for!5o# (' /ee# o5!!ed

D T(e C(5r# of !(e Bord, CEO #d CFO '(o4d '4pp? !+odd5!5o# '!!ee#!'7

2 T(! !(e? re '!5'f5ed !(e $op#? 5' %o5#% $o#$er#

) O# !(e effe$!5"e#e'' of !(e $op#?<' 5#!er# $o#!ro '?'!e #d

5#!er# 4d5! depr!e#! T(5' '(o4d 5#$4de #? 5rre%4&r5!5e'

5#"o"5#% #%ee#! or epo?ee' +(o ("e '5%#5f5$#! roe' 5#

!(e '?'!e of 5#!er# $o#!ro T(5' '!!ee#! '(o4d 'o /e '5%#ed /?

!(e C(5r# of !(e A4d5! Co5!!ee =5f o#e e95'!'>

III. E9"$n#( A*%io$s

P$in&i'("s)

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B A4d5!or' '(o4d /e ppo5#!ed /? !(e '(re(oder' S(re(oder' '(o4d /e pro"5ded # oppor!4#5!? !o #o5#!e 4d5! f5r' pr5or !o !(e No!5$e for !(e AGM

22Se$!5o# 21; of T(e Cop#5e' A$!, 2;;0 $er? '!!e' !(! !(e f5##$5 '!!ee#!' ("e !o /e

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CFO 5' 4'ed !o refer !o !(e 'e#5or o'! f5##$5 off5$er of !(e $op#?, re%rde'' of !(e !5!e



Code of Corpor!e Go"er##$e for B#%&de'( ):

G*i%"(in"s)

C A '(re(oder #o5#!5#% # 4d5! f5r '(o4d /e re45red !o pro"5de

'!#drd5'ed 5#for!5o# /o4! !(e f5r, 'o !(! #o5#!ed f5r' $# /e

$opred T(e 5#for!5o# '(o4d 5#$4de7 pr!#er', '!ff 45f5$!5o#' #d

e9per5e#$e #d !(e #4/er, !?pe, #d 5de#!5!? of $&5e#!'D A4d5! f5r' or pr!#er' re !o /e ro!!ed ! e'! e"er? !(ree ?er'

E A4d5! f5r' '(o4d #o! /e e#%%ed 5# $$o4#!5#% or #o#-4d5! $o#'4!5#% 5#

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f5r If, (o+e"er, #? #o#-4d5! +or* 5' perfored /? !(e '!!4!or? 4d5!or, /o!(

4d5! #d #o#-4d5! fee' p5d !o !(e 4d5! f5r '(o4d /e d5'$o'ed !o '(re(o&der'F A4d5!or' '(o4d #o! (od '(re' 5# $op#5e' !(e? 4d5! If 4d5!or' do (o&d

'(re' 5# $op#? for +(5$( !(e? re ppo5#!ed ' !(e '!!4!or? 4d5!or,

!(e '(re(od5#% o4#! '(o4d /e d5'$o'ed A '!!4!or? 4d5!or 4'! #o! (od

ore !(# 2K of !(e '(re' of $op#?

IV. In"$n#( A*%i

P$in&i'("s)

A A 5'!ed $op#5e' 4'! ("e # 5#!er# 4d5! f4#$!5o# +5!(5# !(e or%#5'!5o#

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B T(e 5#!er# 4d5! depr!e#! '(o4d ("e /rod '$ope of +or* !o 5#"e'!5%!e &&

e"e' of !(e or%#5'!5o# #d /e 5#depe#de#! fro #%ee#!, +5!( d5re$!$$e'' !o !(e Bord of D5re$!or' #d !(e A4d5! Co5!!ee

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G*i%"(in"s)

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#? !5eE T(e 5#!er# 4d5! f4#$!5o# '(o4d ("e !(e 4!(or5!? !o propo'e 5#5!5!5"e' #d

$(#%e' d5re$!? !o !(e /ord

V. Dis&(os*$"s

P$in&i'("s)A T(e Bord of D5re$!or' '(o4d pre'e#! /#$ed ''e''e#! of !(e $op#?<'

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#d de "5/e !o !(e p4/5$ #d !o

'(re(o&der'

G*i%"(in"s)

C 4r!er? 4#4d5!ed re'4!' W5!(5# .3 d?' f!er !(e e#d of !(e 4r!er,

$op#5e' '(o4d pro"5de 4#4d5!ed 4r!er? re'4!' !o

5#$&4de7




2 Se' #d 'e' %ro+!(



2.Ge#er?, #? e9po'4re %re!er !(# 2K of #e! +or!( or 23K of prof5!' '(o4d /e $o#'5dered


) Prof5! #d prof5! %ro+!(. Re'er"e'

D I#!er5 ##o4#$ee#!' '(o4d /e de "5/e !o '(re(oder' +(e#

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/? !(e Cop#5e' A$!, D(* S!o$* E9$(#%e, C(5!!%o#% S!o$* E9$(#%e,

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2.

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#rr!5"e for!72 Ge#er Cop#?

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/ S!!ee#! of !(e $op#?<' po5$? #d pr$!5$e o# Corpor!e

So$5 Re'po#'5/55!?, Corpor!e E#"5ro#e#! Re'po#'5/55!?,#d $op5#$e +5!( B#%de'( e#"5ro#e#! '!#drd'

$ 4#!5!!5"e d5'$o'4re of 'e' #d r*e! '(re, o$ #d fore5%#=5f pp&5$/&e>

d F4!4re /4'5#e'' '!r!e%?

e M!er5 r5'* f$!or' #d 4#$er!5#!5e'f E9p#!5o# of re'4!', 5#$4d5#% *e? re'4!' for d5"5'5o#' or

/4'5#e'' 'e%e#!'

% Cop5#$e Cer!5f5$!e, pro"5ded #d '5%#ed off /? !(e Cop#?Se$re!r? or o!(er $op5#$e off5$er or e9!er# 4d5!or, #d &'o

'5%#ed off /? !(e CEO, C(5r# of !(e Bord, #d !(e

$(5r# of e$( /ord $o5!!ee de5#% +5!( $op5#$e

!!er', !!e'!5#% !(!75 !(e $op#? (' d4? f5ed '!!4!or? re!4r#' d4r5#% !(e ?er 55 !(e $op#? (' 5#!5#ed '!!4!or? /oo*' #d re%5'!er',

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#? 4r!er " !(e $op#? (' pr$!5$ed $orpor!e #or', r4e' #d

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4!(or5!5e' d4r5#% !(e ?er 4#der repor!



20Ge#er?, #? e9po'4re %re!er !(# 2K of #e! +or!( or 23K of prof5!' '(o4d /e $o#'5dered

Code of Corpor!e Go"er##$e for B#%&de'( );

) O+#er'(5p

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/ Repor! o# !(e re!5"e' of d5re$!or' ' epo?ee' or e/er' of

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d Per'o#' +(o ("e !!e#ded /ord ee!5#%' 5# !(e '! ?er,5#$&4ded !!e#d#$e of d5re$!or' #d #? '4/'!5!4!e d5re$!or'

e De!5' of o#' !o d5re$!or' #d re!ed pr!5e'

f I#for!5o# o# re!ed pr!? !r#'$!5o#', '4$( ' !(e p4r$('e or'e of '(re' 5# ''o$5!ed $op#5e' +(ere !(e $op#? 5!'e&f

(' '(re(od5#%, or +(ere !(e o!(er $op#? (' '(re(od5#%5# !(e $op#?, or +(ere e/er' of !(e /ord @o5#!? or'e"er? ("e '5%#5f5$#! '(re(od5#% e45"e#! !o 6K or oreof !(e

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0 A$$o4#!5#% #d F5##$5&

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/ Co#!r$!4 %reee#!', 5f #?, !(! +o4d ("e !er5 effe$!20

o# !(e $$o4#!' 5# !(e e"e#! of #o#-

$op&5#$e$ Co#!5#%e#! 5/55!5e' #d o#%o5#%, pe#d5#%, or 5*e? e%

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d Ne+ $red5!or' #d de!5' of !er5 o#'e Cred5! r!5#%, 5f #?

f De!5' of 5#"e'!e#!', 5#$4d5#% r*e! "4!5o#, 5#

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+(5$( !(e f5##$5 re'4!' re pr!5$4r? 'e#'5!5"e

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5 Depre$5!5o# #d !9 po&5$?



Code of Corpor!e Go"er##$e for B#%&de'( .3

SECTOR 8SPECIFIC PROVISIONS) FINANCIALINSTITUTIONS AND SOES

T(e foo+5#% !+o 'e$!5o#' de!5 $orpor!e %o"er##$e pro"5'5o#' !(! '(o4d

/e foo+ed /? 'pe$5f5$ !?pe' of or%#5'!5o#', #e?, f5##$5 5#'!5!4!5o#' =FI'> #d

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'e$!or, /4! re !o /e $o#'5dered in addition !o !(e pro"5'5o#' o4!5#ed 5# !(e pre"5o4'

'e$!5o#' of !(e Code of Corpor!e Go"er##$e To $(5e"e f4&& $op5#$e +5!(

!(e Code of Corpor!e Go"er##$e, FI' #d SOE' '(o4d foo+ !(e pro"5'5o#' of !(e

%e#er Code ' +e ' !(e 'e$!or 'pe$5f5$ pro"5'5o#' !(! fo&&o+




FINANCIALINSTITUTIONS

T(5' 'e$!5o# of !(e Code $# /e pp5ed !o /#*', 5#$4d5#% N!5o#5'ed Coer$5

B#*' =NCB'>, #d #o#-/#* f5##$5 5#'!5!4!5o#',26

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de"eope#! T(e B#%de'( B#* (' !(e '!!4!or? po+er !o re%4!e

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$# re45re !(e5r $orpor!e $4'!oer' !o foo+ %ood r5'* #%ee#! '?'!e' #d

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re !(e 5# 'o4r$e of $p5! for /o!( p4/5$ #d pr5"!e $op#5e' E"5de#$e of !(e

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!(e (5%(e'! '!#drd' of $orpor!e %o"er##$e

I. D*i"s o D"'osio$s #n% C*so+"$s

P$in&i'("s)

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e$o#o5$ f4#$!5o# 5# #!5o# 5fe He#$e !(e? ("e # o/5%!5o# !o o/'er"e !(e

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G*i%"(in"s)

C I#for!5o# '(o4d /e pro"5ded !o depo'5!or', $4'!oer', #d !(e p4/5$ !o e#/&e

!(e !o de4!e? @4d%e !(e '!re#%!( #d (e!( of !(e /#* #d +(e!(er

5!'

26 T(5' 'e$!5o# o# F5##$5 I#'!5!4!5o#' doe' #o! pp? !o M5$rof5##$e I#'!5!4!5o#' =MFI'> +(5$(



Code of Corpor!e Go"er##$e for B#%&de'( .)

re $o"ered 5# !(e 'e$!5o# o# NGO'



Code of Corpor!e Go"er##$e for B#%&de'( ..

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po!e#!5 $4'!oer'

II. Dis&(os*$"s

P$in&i'(")

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per B'e Cp5! A$$ord or %45de5#e' fro B#%de'(

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per5od, ! !(e /#$e '(ee! d!e !o !(e !4r5!?

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1 P4/5$!5o# of Code of Corpor!e So$5 #d E#"5ro#e#!&Re'po#'5/5&5!?

; D5'$o'4re of !(e '?'!e' for (#d5#% $op5#!', fro /o!( 5#!er#

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#d !(e r4e' for (#d5#% '4$(




$o#f&5$!'22 Bord '!r4$!4re ='5e, e/er'(5p, 45f5$!5o#' #d $o5!!ee'>




2) Se#5or #%ee#! '!r4$!4re =re'po#'5/55!5e', repor!5#% &5#e',

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2. B'5$ or%#5'!5o# '!r4$!4re =5#e' of /4'5#e'', e% e#!5!? '!r4$!4re',

e!$>

20 I#for!5o# /o4! !(e 5#$e#!5"e '!r4$!4re of !(e /#* =re4#er!5o# po5$5e', e9e$4!5"e $ope#'!5o#, /o#4'e', '!o$* op!5o#'>

III. Bo#$% of Di$"&o$s

P$in&i'("s)

A T(e f4#$!5o# of !(e Bord of D5re$!or' 5' !o 'e! po5$? #d '!r!e%5$ d5re$!5o# for!(e f5##$5& 5#'!5!4!5o# Co5!!ee' #d 'e#5or #%ee#! '(o4d !(e# $rr?o4! !(e'e po5$5e' #d o#5!or !(e5r 5p&ee#!!5o#

B D5re$!or' 4'! /e f5!, proper, #d $ope!e#! !o $rr? o4! !(e5r d4!5e'

C Bord' of FI' 4'! ("e # A4d5! Co5!!ee, +(5$( o"er'ee' !(e 5#!er# #de9!er# 4d5! pro$e''

G*i%"(in"s)

D A /#* d5re$!or' '(o4d ("e e''e#!5 f5##$5 $ope!e#$? #d re$o%#5'ed

profe''5o# or #%ee#! e9per5e#$e 5# /#*5#%, f5##$e, +, r*e!5#%,

oper!5o#', (4# re'o4r$e' #%ee#!, or %e#er #%ee#!E A#? d5re$!or' ppo5#!ed !o !(e /ord for !(e5r #o#-f5##$5 'pe$55'! *#o+&ed%e

'(o4d 4#der%o 5#!e#'5"e !r5#5#% 5# f5##$5 #?'5' for #o#-f5##$5 d5re$!or'

F FI' 4'! ("e # A4d5! Co5!!ee of !(e Bord, +(5$( o"er'ee' !(e 5#!er# #d

e9!er# 4d5! pro$e'' T(e 4d5! $o5!!ee 4'! 5#$4de e/er' +5!( de4!e

f5##$5 #d /#*5#% e9per!5'e !o $rr? o4! !(e5r d4!5e' proper? T(e 4d5!$o5!!ee +5 'o repor! !o !(e Bord of D5re$!or' o# r5'* #%ee#!

4#e'' !(ere 5' #o!(er $o5!!ee !(! doe' 'o T(e

$(5r# of !(e 4d5! $o5!!ee 4'! /e f5##$5 'pe$55'! #d #o#-e9e$4!5"e

d5re$!orG Bord' of FI' '(o4d ("e # A''e!-L5/55!? Co5!!ee =ALCO> +(5$( e95#e'

!(e o"er po'5!5o# #d r5'* e"e of !(e ''e! #d 5/55!5e' (ed /? !(e FIH E5!(er !(e ALCO or # E9e$4!5"e Co5!!ee, 5#$4d5#% C(5r# of !(e

Bord, CEO #d ! e'! o#e #o#-e9e$4!5"e d5re$!or '(o4d ee! ! e'!

o#!(? !o

re"5e+72 M@or o# ppro"&'

) De/! re'!r4$!4r5#%. R5'* #%ee#!

I A /ord' '(o4d ("e Cop#? Se$re!r? or Cop5#$e Off5$er ' !(e

d"5'er !o !(e /ord #d re'po#'5/e !o !(e /ord ' +(o&e

Bord ee!5#%' 4'! /e f4? #d proper? re$orded 5# 5#4!e' 'o !(! de$5'5o#'

!*e# $# /e de4!e? $rr5ed o4!28

28 T(e B#%de'( B#* (' 5''4ed '!#drd for! !(! 4'! /e foo+ed 5# re$ord5#% !(e 5#4!e'




of /ord ee!5#%'



Code of Corpor!e Go"er##$e for B#%&de'( .:

IV. C$"%i Ass"ss+"n #n% Ass" Monio$in

P$in&i'("s)A Good /4'5#e'' pr$!5$e' +5!( re%rd !o $red5! ''e''e#! #d ''e! o#5!or5#%

'(o4d /e o/'er"ed /? FI'2 Borro+er' '(o4d /e re45red !o ("e /4'5#e'' p# #d '!r!e%? for

4'e of f4#d' /orro+ed

) T(e $red5! ''e''e#! #d o# ppro" pro$e'' '(o4d /e 5'o!edfro per'o# $o#f5$!' of 5#!ere'! #d po5!5$ 5#f&4e#$e

. R5'* ''e''e#! for %ro4p' of $op#5e' '(o4d 4'e !o! r5'*

''e''e#! of !(e +(oe $op#?B FI' '(o4d 4'e !(e5r po'5!5o# #d 5#f4e#$e ' '4pp5er' of f5##$5#% !o $!5"e&?

e#$o4r%e !(e5r $4'!oer' !o $o#for !o !(e Code of Corpor!e Go"er##$e /?

4'5#% !(e Code 5# $red5! de$5'5o#', '5#$e /e!!er $orpor!e %o"er##$e 5# /orro+5#%$4'!oer'< or%#5'!5o#' +5 5pro"e perfor#$e #d $$o4#!/55!?, ' +e '

red4$e r5'*C FI' '(o4d $o#'5der !(e pp5$!5o# of d"#!%eo4' /#*5#% f$55!5e' !o !(e5r

$orpor!e $4'!oer' +(o 5#!5# (5%( '!#drd' of $orpor!e %o"er##$e,

r5'* #%ee#!, #d /4'5#e'' '!r!e%? #d #%ee#!

G*i%"(in"s)

D Per'o##e ''5%#ed !o Cred5! R5'* M#%ee#! f4#$!5o#' '(o4d ("e !r5#5#%

prere45'5!e' #d o#%o5#% re45ree#!'E To "o5d per'o# $o#f5$!' of 5#!ere'! #d po5!5$ 5#f&4e#$e7

2 Epo?ee' #d /ord e/er' '(o4d #o! /e 5#"o"ed 5# !!er' 5#+(5$( !(e? ("e per'o# 5#!ere'!) Me!(od' of o# 4!(or5'!5o# #d e#d5#% 55!' '(o4d /e $&er&?

'peed o4! #d $op5ed +5!(F Lr%e /orro+er'

2:'(o4d /e re45red !o '(o+ $op5#$e +5!( !(e Code or

pro%re'' !o+rd' !(! e#d A#? $red5! r!5#% %e#$5e' 4'ed /? !(e FI for ''e''5#%$red5!+or!(5#e'' +5 /e re45red !o 4'e $orpor!e %o"er##$e ' @or f$!or 5#''e''5#% r5'*

G FI' '(o4d re45re f5##$5 '!!ee#!' !(! $op? f4? +5!( B#%&de'(A$$o4#!5#% S!#drd'

V. D", R"&o6"$1

P$in&i'(")

T(ere '(o4d /e 'epr!5o# of per'o##e #d repor!5#% re'po#'5/55!? /e!+ee# o#or5%5#!5o#J r*e!5#%, $red5! ppro", !r#'$!5o# pro$e''5#%, #d o# re$o"er?

2:A' per B#%de'( B#*<' def5#5!5o# r%e /orro+er $opr5'e' ! e'! 26K of !o! $p5!




VI. Ris7 M#n#"+"n

P$in&i'(")A Corpor!e Go"er##$e rr#%ee#!' 5# FI' '(o4d 5#$4de '?'!e' #d

pro$ed4re' !(! 5de#!5f?, o#5!or, #d #%e /4'5#e'' r5'*'21

G*i%"(in"s)

B S!ff '(o4d /e ''5%#ed re'po#'5/55!? for r5'* #%ee#! '?'!e', #d !r5#5#%'(o4d /e pro"5ded !o e#/e !(e !o 4#der'!#d #d #%e r5'*'

C R5'* #%ee#! '(o4d /e pr! of !(e re'po#'5/55!5e' of 'e#5or #%ee#!#d d5re$!or' Tr5#5#% '(o4d /e pro"5ded !(! +5 %5"e 'e#5or #%ee#! #dd5re$!or' !(e /$*%ro4#d #d *#o+ed%e !o $rr? o4! !(5' re'po#'5/5&5!?

D M#%ee#! '?'!e' +(5$( re45re re%4r repor!5#% !o 'e#5or #%ee#!

o# !(e #!4re #d %#5!4de of r5'*' !o +(5$( !(e FI 5' e9po'ed, ' +e '!(e pro"5'5o#' !o 5!5%!e #d $o#!ro !(o'e r5'*' T(5' '(o4d

5#$4de proof !(! r5'* #%ee#! '?'!e' re /e5#% proper? #d ro/4'!?

pp5ed Repor!5#% !o !(e /ord '(o4d

5#$4de repor! of !(e e'!5!e' of o+#$e' for do4/!f4 $$o4#!'

E CEO'JMD' '(o4d '5%# # !!e'!!5o# !(! !(e? re f4? '!5'f5ed !o !(e /e'!

of !(e5r /5&5!? !(! !(e FI' !er5 r5'*'2;

re /e5#% effe$!5"e? 5de#!5f5ed, o#5!ored, #d #%ed !(ro4%( oper!5#%

'?'!e' of r5'* #%ee#! T(e !!e'!!5o#' '(o4d pper 5# !(e D5re$!or'<Repor! Re%4!or' '(o4d (o&d

CEO'JMD' re'po#'5/e 5f !(e !!e'!!5o#' re fo4#d !o /e 5'ed5#% or

f&'e

VII. Co$'o$#" Go6"$n#n&" Co+'(i#n&"

P$in&i'(")

FI' '(o4d ("e # off5$er ''5%#ed !o o#5!or #d repor! o# $orpor!e %o"er##$e

$op5#$e T(e Cop5#$e off5$er '(o4d *e re%4r repor!' !o !(e /ord o# !(ede4$? of $orpor!e %o"er##$e rr#%ee#!'

21B4'5#e'' r5'* 5#$4de' r*e! r5'*, fore5%# e9$(#%e r5'*, 5#!ere'! r!e r5'*, d4r!5o# r5'*, $red5!

r5'*, def4! r5'*, po5!5$ r5'*, rep4!!5o# r5'*, oper!5o# r5'*, e"e#! r5'*, e!$2;

Ge#er?, #? e9po'4re %re!er !(# 2K of #e! +or!( or 23K of prof5!' '(o4d /e $o#'5dered !er5




STATE8OWNEDENTERPRISES

S!!e-o+#ed e#!erpr5'e' =SOE'>)3

("e # 5por!#! roe 5# !(e e$o#o? of B#%de'(

For !(e o"er e$o#o? !o 5pro"e #d /e$oe ore $ope!5!5"e, SOE' 4'!

r!5o#5'e #d $ope!e o# # e"e# p?5#% f5ed +5!( !(e pr5"!e 'e$!or Corpor!e

%o"er##$e 5' #e$e''r? for !(e %o"er#e#! !o e9er$5'e 5!' o+#er'(5p of SOE' 5#

!r#'pre#! #d $$o4#!/e ##er Tr#'pre#$?, d5'$o'4re, #d $$o4#!/55!? re of

pr5r? 5por!#$e 5# !(e p4/5$ 'e$!or ' !(e %o"er#e#!, +(5$( 'er"e' ' !r4'!ee,

repre'e#!' #d 5' $$o4#!/e !o 55o#' of !9p?er' #d $5!5e#' for !(e ppropr5!e #d

eff5$5e#! 4'e of p4/5$ ''e!' I# 'e#'e, SOE' ("e !(e +5de'! po''5/e '(re(oder /'e

of #? $orpor!5o# 5# B#%de'( T(e %o"er#e#!, ' !(e repre'e#!!5"e of !(e'e

'(re(oder', (' !(e re'po#'5/55!? !o 955'e !(e "&4e #d 4'e of re'o4r$e',

+(5e e#'4r5#% !(e (5%(e'! e"e' of $orpor!e 'o$5 #d e#"5ro#e#! re'po#'5/5&5!?

T(e proper ''5%#e#! of roe' #d re'po#'5/55!5e', for '(re(oder',%o"er#e#!, /ord', #d #%ee#!, 5' !(e f5r'! '!ep 5# e'!/5'(5#% %ood

$orpor!e %o"er##$e '?'!e 5# SOE' 5# B#%de'( I# 'oe $'e' !(e

$oer$5 5#!ere'!' of # SOE ? /e d5ffere#! #d 'epr!e fro !(e 5#!ere'! of !(e

%o"er#e#! I! 5' for !(5' re'o# !(! !(e Code re$oe#d' 55!!5o# o# !(e

/55!? of !(e '(re(oder =%o"er#e#!> !o pr!5$5p!e 5# d?-!o-d? #%ee#!

de$5'5o#' #d # %reed S!!ee#! of Corpor!e I#!e#! !(! +5 /e 4'ed !o e'4re !(e

perfor#$e of SOE' M*5#% SOE' $$o4#!/e !o $(5e"e perfor#$e !r%e!' /?

5pee#!5#% %ood $orpor!e %o"er##$e pr$!5$e', +5 '!r! !(e pro$e'' of 5pro"5#%

prof5!' #d %ro+!( 5# !(e '!!e-o+#ed 'e$!or

To e#/e e"e p?5#% f5ed /e!+ee# !(e '!!e-o+#ed 'e$!or #d !(e pr5"!e'e$!or, +' #d re%4!5o#' 4'! pp? !o /o!( e4? T(e 'e 5' !r4e of

$orpor!e %o"er##$e re45ree#!' SOE' '(o4d foo+

!(e re$oe#d!5o#' #d re45ree#!' 5d do+# 5#

o!(er 'e$!5o#' of !(e Code of Corpor!e Go"er##$e Ho+e"er, !(5' 'e$!5o#

(5%(5%(!' 'oe 'pe$5f5$, dd5!5o# pro"5'5o#' for SOE', %5"e# !(e $4rre#! '!!e of

$orpor!e %o"er##$e

I. A''(i&#ion of !" Co%" of Co$'o$#" Go6"$n#n&"

P$in&i'(")

A !(e pro"5'5o#' 5#$4ded 5# pre"5o4' 'e$!5o#' of !(e Code of Corpor!e Go"er##$e

4'! /e e4? pp5ed !o SOE' T(e pro"5'5o#' for F5##$5 I#'!5!4!5o#' '(o4d 'o

/e pp5ed !o N!5o#5'ed Coer$5 B#*'

II. L"#( +#n%#" #n% Monio$in

P$in&i'(")

T(e ree"#! +' #d '4per"5'5o# pp?5#% !o $oer$5 e#!erpr5'e' o+#ed or4#der!*e# /? !(e %o"er#e#! #d !(e5r d5re$!or' '(o4d /e $er? '!!ed Prefer/?, &&

%o"er#e#! e#!5!5e' e#%%ed 5# $oer$5 $!5"5!5e' '(o4d /e %o"er#ed /? !(e

)3For p4rpo'e' of !(e Code, # SOE refer' !o #? e#!5!? o+#ed +(o? or pr!? /? ! (e %o"er#e#!




e#%%ed 5# $oer$5 $!5"5!5e' =5e !(e !rde of 'er"5$e' or prod4$!' for p?e#!> +(e!(er 4#der 'e$!or

$orpor!5o#, re%4!or? %e#$?, or o!(er /r#$( of %o"er#e#!



Code of Corpor!e Go"er##$e for B#%&de'( .:

Cop#5e' A$! I! '(o4d /e $er? '!!ed +(5$( %e#$? or 5#5'!r? 5' !(e '(re(oder

of !(e SOE #d, 5f d5ffere#!, +(5$( 5' re'po#'5/e for o#5!or5#%, '4per"5'5o#, #d

e"4!5o# of !(e SOE I! 5' ep('5'ed !(! !(e !r4e o+#er' of SOE' re !(e $5!5e#' of

B#%de'(, +(o'e '(re' re (ed #d #%ed /? !(e %o"er#e#! o# !(e5r /e(&f

III. S#"+"n of Co$'o$#" In"n

P$in&i'("s)

A A S!!ee#! of Corpor!e I#!e#! =SCI> '(o4d /e #e%o!5!ed ##4? #d %reed

4po# /? !(e d5re$!or', ree"#! %o"er#e#! e#!5!?, #d '(re(oder' T(e

S!!ee#! '(o4d e'!/5'( 'pe$5f5$ oper!5o# %o' #d perfor#$e !r%e!'

A#? 'o$5&, po5$?, or #o#-e$o#o5$ rr#%ee#!' '(o4d /e de!5ed 5# !(e

S!!ee#! A M5''5o# S!!ee#! '(o4d /e pr! of !(e SCI

B T(e /ord 4'! !*e re'po#'5/55!? #d /e e"4!ed o# !(e pro%re'' de

!o+rd' $(5e"5#% !(e 5''5o# of !(e or%#5'!5o#

G*i%"(in"s)

C T(e M5''5o# S!!ee#! or SCI '(o4d $o"er o#%-!er %o' #d pro"5de !(e

fre+or* for '4/ord5#!e perfor#$e $o#!r$!' /e!+ee# !(e Bord of D5re$!or'

#d !(e Bord #d !(e CEOJMD T(e '!!ee#! '(o4d /e 'e! for pr!5$4r

per5od, ! e'! !(ree ?er' /4! #o! !o e9$eed f5"e ?er', #d 4'! /e e"4!ed

##4?D Spe$5f5$ oper!5o# %o' of # SOE '(o4d e#$op'' 5''5o# !o oper!e7

2 ' prof5!/? #d eff5$5e#!? ' $opr/e /4'5#e'' !(! !(eGo"er#e#! doe' #o! o+#

) !o !(e (5%(e'! '!#drd' ' %ood epo?er of 5!' o+# '!ff ' %ood

$4'!oer for e9!er# prod4$!' #d 'er"5$e' #d ' %ood '4pp5er !o

5!' $4'!oer'

. ' # or%#5'!5o# +(5$( deo#'!r!e' !(e (5%(e'! '!#drd' of Corpor!e So$5 A#d E#"5ro#e#! Re'po#'5/5&5!?

E T(e S!!ee#! of Corpor!e I#!e#! $o4d /e '55r !o or dp!ed fro !(e S?'!e

for A4!o#oo4' Bod5e', Repor!5#% #d E"4!5o# =SABRE> '?'!e 5# effe$! 5# p4/5$ e#!erpr5'e' ! pre'e#!

IV. Bo#$% of Di$"&o$s

P$in&i'("s)

A T(e pr5r? roe of !(e /ord 5' !(e %o"er##$e of !(e $op#?Je#!erpr5'e T(e /ord e9er$5'e' '!e+rd'(5p o# /e(f of !(e '(re(oder !o e#'4re !(e o#%o5#%

(e!( #d f5##$5 "5/55!? of !(e

$op#?B T(e SOE 4'! '!!e +(ere !(e d5re$!or<' pr5e d4!? 5e' 5# o'! $'e' !(! +5&&

/e !o !(e '(re(oder' of !(e e#!erpr5'e' Me/er' of !(e /ord 4'! *eep$o#f5de#!5 $o#f5de#!5 !!er' of !(e SOE

C D4e !o !(e $ope9 #!4re of !(e re!5o#'(5p /e!+ee# SOE' #d !(e %o"er#e#!,

'(re(oder'< /55!? !o pr!5$5p!e 5# de$5'5o#' #d 5''4e d5re$!5o#' !o !(e /ord

#d #%ee#! '(o4d /e $o#f5#ed !o po5$? !!er' $er? def5#ed 5# !(e

Corpor!e Perfor#$e Co#!r$! #d '(o4d /e e9$4ded fro oper!5o# !!er'

#d d?-!o-d? #%ee#! Ho+e"er, !(e /ord '(o4d re%4r? #d f4&&?




repor! !o !(e '(re(oder' o# re'4!', '!r!e%5$ p#', #d !er5 5#for!5o#

' per # %reed 4po# '$(ed4&e

D A pro"5'5o#' of !(e Code of Corpor!e Go"er##$e o# Bord I''4e'

e4? pp? !o !(e /ord' of SOE' I# pr!5$4r, !(e /ord '(o4d

e"4!e 5!' o+# perfor#$e, /o!( $oe$!5"e? #d 5#d5"5d4? 5#$4d5#% !(e

perfor#$e of !(e $(5r#, !o e#'4re 5!' oper!5#% effe$!5"e&?E T(e 4!(or5!? !(! ppo5#!' d5re$!or' of SOE', +(e!(er 5! /e !(e %o"er#e#! or !(e

$4rre#! /ord, 4'! ppo5#! d5re$!or' +5!( '4ff5$5e#! e9per5e#$e, 5#!e%r5!? #d

5#depe#de#$e !o $rr? o4! !(e5r d4!5e' T(e ppo5#!e#! pro$e'' '(o4d /e

!r#'pre#! #d ppo5#!e#!' '(o4d /e de o# er5!, #o! d4e !o po&5!5$&

$o#'5der!5o#'

G*i%"(in"s)

F A SOE d5re$!or' '(o4d ("e '5%#5f5$#! profe''5o# or #%ee#! e9per5e#$e

re 5# /#*5#%, f5##$e, +, r*e!5#%, oper!5o#', (4# re'o4r$e'#%ee#!, or %e#er #%ee#! S4$( e9per5e#$e '(o4d ("e /ee# %5#ed

fro # or%#5'!5o# +5!( $oer$5 fo$4' D5re$!or' ? 'o /e

$(o'e# /'ed o# !(e5r e9per!5'e #d e9per5e#$e 5# o!(er re!ed f5ed' 5#$4d5#%7

'$5e#$e, !e$(#oo%?, (e!(, %r5$4&!4re, 'o$5 po5$? or $o4#5!? or%#5'!5o#'

G I# dd5!5o# !o !(e d4!5e' e#4er!ed for d5re$!or' 5# o!(er pr!' of !(5' Code,

SOE d5re$!or' 'o ("e !(e d4!? !o #e%o!5!e !(e SCI +5!( !(e '(re(oder',

de"eop5#% !(e /4'5#e'' p&# 'o !(! 5! +5 re$e5"e '(re(oder '4ppor! #d (od

#%ee#! re'po#'5/e for ee!5#% !(e perfor#$e e'4re'J5e'!o#e' 5# !(e

SCI #d /4'5#e'' p&#

V. Bo#$% #n% M#n#"+"n

P$in&i'("s)

A T(e /ord '(o4d 'e! !(e roe, d4!5e', #d re'po#'5/55!? of !(e M#%5#% D5re$!orJCEO #d !(e MDJCEO '(o4d /e $$o4#!/e !o !(e Bord of D5re$!or' o#?, #o!

!o po5!5$5#' or o!(er %o"er#e#! off5$5' T(e ppo5#!e#! of !(e CEO '(o4d'o /e do#e /? !(e /ord

B A oper!5o# de$5'5o#')2

'(o4d /e !(e #d!e of !(e #%ee#! #d Bordof D5re$!or'

VI. R"'o$in

P$in&i'(")A SOE' '(o4d $op? +5!( !(e 5#!er# $o#!ro, 4d5!5#%, f5##$5 #d

#o#- f5##$5 repor!5#% #d d5'$o'4re re$oe#d!5o#' 5# !(e Code T(e

/ord '(o4d '4/5! 4d5!ed f5##$5 '!!ee#!' #d 4d5!or<' repor! #d

$oe#!r? o# perfor#$e %5#'! SCI !r%e!'

G*i%"(in"s)

)2Oper!5#% de$5'5o#' 5#$4de prod4$! #4f$!4re, prod4$! pr5$5#%, ' 4pp5er', #d o!(er $o#!r$!or'



Code of Corpor!e Go"er##$e for B#%&de'( .;

B A##4 repor!', 5#$4d5#% A4d5! Repor! #d D5re$!or'< Repor!, '(o4d /e de

p4/5$? "5/e o# !5e? /'5'

C T(e /ord '(o4d '4/5! !(e foo+5#% 5#for!5o# !o !(e '(re(oder' for

d5'$4''5o# /efore p$5#% !(e 'e 5# pr5e#! T(5' '(o4d /e do#e /efore !(e

/e%5##5#% of !(e f5##$5& ?er72 T(e S!!ee#! of Corpor!e I#!e#! =p4/5$ do$4e#!>) A B4'5#e'' P# =#o! p4/5$ do$4e#!>

. See'!er pre'e#!!5o# /? !(e '(re(od5#% e#!5!? !o pr5e#! o# !(e pro%re'' %5#'! SCI

0 T(e /o"e 5''4e' '(o4d 'o /e ddre''ed d4r5#% !(e AGM of !(eSOE

VII. R"+*n"$#ion

P$in&i'("s)A Re4#er!5o# for d5re$!or' '(o4d /e 5# $$ord#$e +5!( !(e $o#'!5!4!5o# of !(e

SOE #d '4/@e$! !o ppro" /? !(e '(re(o&der'

B T(e p? '!r4$!4re of SOE' '(o4d /e 5#depe#de#! of !(e %o"er#e#! p?'!r4$!4re', 'o ' !o /e!!er $ope!e for '*5ed +or*er' +5!( !(e pr5"!e 'e$!or




E/HORTATIONS TO OTHER ENTITIES

I. R"s'onsi,i(ii"s of S!#$"!o(%"$s

S(re(oder' p? # 5por!#! roe 5# !(e %o"er#5#% of #? $orpor!5o# S(re(oder'

'(o4d !*e 'er5o4'? !(e5r re'po#'5/55!5e' S(re(oder' '(o4d er# #d e9er$5'e !(e5r

'(re(od5#% #d "o!5#% r5%(!' 5# # ppropr5!e #d ree"#! ##er T(5' 5#$4de' !(e

/e("5o4r of '(re(oder' #d '(re(oder repre'e#!!5"e' ! A##4 Ge#er Mee!5#%'

S(re(oder' '(o4d 'o /e 5#df4 of !(e e% r5%(!' #d d4!5e' of d5re$!or' #d

#%5#% d5re$!or'

II. R"s'onsi,i(ii"s of Insi*ion#( S!#$"!o(%"$s

I#'!5!4!5o# '(re(oder' re pr!5e' !(! $o#!ro '(re' for !(e /e#ef5! of

o!(er', 5#$4d5#% 4!4 f4#d', pe#'5o# f4#d', o!(er $op#5e', #d "r5o4' %o"er#e#!e#!5!5e' I#'!5!4!5o# '(re(o&der' ("e 4#54e #d 5por!#! roe !o p? 5#

e#'4r5#% %ood $orpor!e %o"er##$e #d ("e # 5por!#! re'po#'5/55!? !o f5d4$5r5e',

!(e $op#?, #d o!(er '(re(o&der'

I#'!5!4!5o# '(re(oder' $# /e po+erf4 for$e for refor 5# $op#? pr$!5$e' I#

#? de"eoped #d eer%5#% r*e!' !(e? p? # 5por!#! roe 5# 5pro"5#%

$orpor!e %o"er##$e I#'!5!4!5o# 5#"e'!or' ("e !(e *e? 5#%red5e#!' !o o!5"!e

$op#5e' !o $(#%e pr$!5$e'7 !(e? '(o4d ("e '!ff 45f5ed !o e"4!e f5##$5

'!!ee#!', /4'5#e'' '!r!e%?, #d $op#? perfor#$e !(e? $o#!ro r%e o4#!' of

$p5! !(! 4'! /e 5#"e'!ed !(e? 'er"e ' ed5#% 5#d5$!or !o o!(er 5#"e'!or' #d !(e?

$o#!ro /o$*' of '(re' +(5$( for$e $op#5e' !o !*e #o!5$e of !(e5r $o#$er#'

Ho+e"er, for 5#'!5!4!5o# 5#"e'!or' !o /e$oe po+erf4 o!5"!5#% for$e for

$(#%e, !(e? 4'! !*e 'er5o4'? !(e5r re'po#'5/55!? !o $(5e"e re'4!' for !(e5r

/e#ef5$5r5e' #d 4'! e9er$5'e !(e5r '(re(oder r5%(!' 5# re'po#'5/e ##er For !(5'

re'o#, !(e Code ep('5'e' !(e roe of 5#'!5!4!5o#& '(re(o&der'

I#'!5!4!5o# '(re(oder' '(o4d "o!e !(e5r pro95e' 5# *eep5#% +5!( !(e5r f5d4$5r? d4!?,

*5#% "o!5#% de$5'5o#' /'ed o# !(e /e'! 5#!ere'!' of !(e5r /e#ef5$5r5e' Repor!' '(o4d

/e pro"5ded !o '(re(oder', 5#"e'!or', #d e/er' ' !o !(e "o!e' e9er$5'ed o# !(e5r

/e(f Re$ord' of "o!e' #d !(e #?'5' $ope!ed !o de!er5#e !(e "o!5#% po'5!5o#

'(o4d /e 5#!5#ed

I#'!5!4!5o# '(re(oder' '(o4&d7

2 De#d (5%( '!#drd' of $orpor!e %o"er##$e fro $op#5e' 5#+(5$( !(e? 5#"e'!

) T*e # $!5"e roe 5# e"4!5#% #d 5pro"5#% d5re$!or de$5'5o#',

$op#? perfor#$e, r5'* #%ee#!, /4'5#e'' '!r!e%?, #d

$orpor!e %o"er##$e pro$ed4re' For e9pe, !(e? ? re45re

$op#5e' 5# +(5$( !(e? 5#"e'! !o 5#!rod4$e 5#depe#de#! /ord #d

d5re$!or ppr5'& '?'!e'




. E#'4re !(! $op#5e' 5# +(5$( !(e? 5#"e'! re $o5!!ed !o

Corpor!e So$5 Re'po#'5/55!? 'e#'5!5"e !o /o4r r5%(!' do #o!

"5o!e !(e pr5#$5pe' of e!(5$ /4'5#e'' #d prod4$e, '4pp? #d

e9!e#d 45!? prod4$!' #d 'er"5$e'

0 Re$o%#5'e !(e 5por!#$e of o#% !er $o5!e#! !o !(e$op#5e' 5# +(5$( !(e? 5#"e'!, #d !(e $o#'e4e#$e' of +5!(dr+5#%

5#"e'!e#!'

To /e%5# !o 'e! !(e5r o+# '!#drd for 5#"e'!e#! po5$? #d $orpor!e %o"er##$e,

5#'!5!4!5o# '(re(oder' '(o4d p4/5'( !(e $orpor!e %o"er##$e pr5#$5pe' #d

pr$!5$e', +(5$( !(e? e9pe$! fro !(e $op#5e' 5# +(5$( !(e? 5#"e'!, #d 'o !(e5r o+#5#"e'!e#! pr5#$5pe' #d pr$!5$e' +(5$( !(e? 5#!e#d !ofo&&o+

))

III. R"s'onsi,i(ii"s of E9"$n#( A*%io$s

E9!er# 4d5!or' '(o4d e9er$5'e !(e5r d4!5e' +5!( 5#depe#de#$e #d d4e !!e#!5o# !o

!(e5r profe''5o#& #d '!!4!or? re45ree#!' T(e I#'!5!4!e of C(r!ered A$$o4#!#!'

of B#%de'( '(o4d '!r5"e !o f4? d5'$(r%e 5!' d4!? !o ed4$!e 4d5!or' #d 4p(od

'!!4!or? #d profe''5o# '!#drd'

))For ore %45de5#e' o# !(e re'po#'5/55!5e' of 5#'!5!4!5o# '(re(oder', pe'e refer !o !(e M?#er'

Repor! !o !(e U Tre'4r? +(5$( 'pe$5f5$? ddre''e' !?pe' of 5#'!5!4!5o# '(re(o&der' #d e'!/5'(e'

5#"e'!e#! pr5#$5pe' I! $# /e $$e''ed ! +++( - !re'4r?%o"4* =F5##$5 Ser"5$e', !(e#

Se$4r5!5e' #d I#"e'!e#!'>

http://www.hm-treasury.gov.uk/

http://www.hm-treasury.gov.uk/




BASIC CHECKLIST FOR IMPLEMENTATION OF THE CODE OF CORPORATEGOVERNANCE

Beo+ 5' '5p5f5ed '4r? of 'pe$5f5$ re$oe#d!5o#' for 5pee#!!5o# of !(e

Code of Corpor!e Go"er##$e T(e /'5$ $(e$*5'! /eo+ 5' dr+# fro !(e Code /4! 5'

#o! # e9(4'!5"e 5'! of '!ep' !(! $o4d /e !*e# !o 5pro"e $orpor!e %o"er##$e

I. Bo#$% of Di$"&o$s

2 De"eop D5re$!or o/ De'$r5p!5o# 5#$4d5#% roe', r5%(!', re'po#'5/55!5e', #dre45red 4&5f5$!5o#'

) De"eop #d %ree !o Bord Code of Co#d4$!. Cre!e Co5!!ee' of !(e Bord of D5re$!or' ' ppropr5!e0 I#5!5!e /ord perfor#$e re"5e+ pro$e'' If re"5e+ (' #o! pre"5o4'&?

e"4!ed !(e '5e of !(e /ord, d5re$!or re-ee$!5o# po5$? #d !er 55!',

'4$( 5!e' '(o4&d /e 5#$4ded 5# !(e re"5e+6 Cre!e #d ff5r S!!ee#! of Go5#% Co#$er# #d Cop5#$e Cer!5f5$!e8 De"eop Bord C(r!er, +(5$( e'!/5'(e' !(e roe', re'po#'5/55!5e', #d

'pe$5f5$ ##4& o/@e$!5"e' of !(e /ord Fro !(e Bord C(r!er, /ord+or*

p# $# /e de"e&oped: De"eop pro%re of !r5#5#% of 5#d5"5d4 d5re$!or' #d !(e /ord ' +(o&e

Pr!5$4r fo$4' '(o4d /e %5"e# !o #e+ d5re$!or'1 B'ed o# !(e /o"e, *e ppropr5!e $(#%e' !o !(e Meor#d4 #d Ar!5$e'

of A''o$5!5o#

II. E+'(o1""s2 De"eop # Epo?ee Code of Co#d4$!

) T(e Code of Co#d4$! '(o4d /e 5#$orpor!ed 5#!o epo?e#! $o#!r$!' #d /e re45ree#! of ep&o?e#!

. A# e#for$ee#! pro%re '(o4d 5de#!5f? #d p4#5'( "5o!5o#' of !(e Code of Co#d4$!

III. S!#$"!o(%"$s

2 Cre!e #d d5'!r5/4!e S(re(oder'< H#d/oo*

) E95#e pro$ed4re' for AGM #o!5$e, 'e!!5#% !(e AGM %e#d, "o!5#% pr$!5$e',#d re$ord5#% !(e re'4!' of !(e AGM

. Re"5e+ pro$ed4re' for #o5#!5o# of d5re$!or' #d #o5#!5o# of !(ee9!er# 4d5!or' !o e#'4re de4!e #d ppropr5!e oppor!4#5!5e' for'(re(oder pr!5$5p!5o#

IV. Dis&(os*$"s #n% R"'o$in

2 M*e ppropr5!e $(#%e' 5# 4d5!or ppo5#!e#! %45de5#e' !o 5#'!5!4!e ro!!5o#

of 4d5! f5r' or pr!#er') E9p#d !(e ##4 repor! !o 5#$4de d5'$o'4re' ' pro"5ded 5# !(e Sp&e

Co#!e#!' of # A##4 Repor! =Appe#d59>




V. Fin#n&i#( Insi*ions

2 De"eop #d p4/5'( Code of Be'! Pr$!5$e for C4'!oer'

) De"eop #d p4/5'( Code of Corpor!e So$5 #d E#"5ro#e#!&Re'po#'5/5&5!?

. E9p#d d5'$o'4re' 5# !(e A##4 Repor! #d o!(er p4/5$ do$4e#!' !o$op? +5!( !(e Code of Corpor!e Go"er##$e

0 I#5!5!e r5'* #%ee#! re"5e+, 5f '4$( re"5e+ 5' #o! red? pr$!5$ed

6 Re"5e+ $red5! ''e''e#! pro$e'' !o 5#$orpor!e $orpor!e %o"er##$e 5#!o $red5!de$5'5o#'

8 De"eop #d ff5r # !!e'!!5o# fro !(e CEOJMD !(! !er5 r5'*' re /e5#% effe$!5"e? 5de#!5f5ed, o#5!ored, #d #%ed

: De"eop #d ''5%# per'o##e !o Corpor!e Go"er##$e Cop&5#$e

pro%re

VI. S#" O-n"% En"$'$is"s

2 Def5#e '(re(oder='> #d o#5!or5#% %e#$?) De"eop S!!ee#! of Corpor!e I#!e#! #d #e%o!5!e #d %ree '4$( '!!ee#!

+5!( !(e re'po#'5/e o#5!or5#% %e#$? De"eop pro$e'' for repor!5#%#d perfor#$e ppr5' /'ed o# !(e S!!ee#! of Corpor!e I#!e#!

. De"eop '!!ee#! of d5re$!or<' d4!5e' #d re'po#'5/5&5!5e'0 Re"5e+ 5#!er# $o#!ro '?'!e', 4d5!5#%, #d repor!5#% #d d5'$o'4re pr$!5$e'

for $op5#$e +5!( !(e Code of Corpor!e Go"er##$e

VII. Insi*ion#( In6"so$s

2 De"eop #d p4/5'( 5#"e'!e#! pr5#$5pe' #d pr$!5$e') De"eop "o!5#% %45de5#e' #d pro$ed4re' E'!/5'( re$ord-*eep5#% '?'!e for

pro9? "o!5#% perfor#$e o#5!or5#%

. De"eop %45de5#e' for !*5#% # $!5"e roe 5# $orpor!e %o"er##$e

of $op#5e' 5# +(5$( 5#"e'!e#!' re de

0 P4/5'( $orpor!e %o"er##$e pr5#$5pe' #d pr$!5$e' +(5$( re e9pe$!ed fro$op#5e' 5# +(5$( 5#"e'!e#!' re de




NGO GOVERNANCE PRINCIPLES

P$"#+,("

W!1 NGO Go6"$n#n&" P$in&i'("s:

S5#$e 2183 !(e '!!e (' !!ep!ed !o re%4!e NGO' +5!( !(e o'! '5%#5f5$#!

'!ep

re'4!5#% 5# !(e $re!5o# of !(e NGO Aff5r' B4re4 #d !(e ppo5#!e#! of !(e Ad"5'or

for NGO Aff5r' +5!( M5#5'!er5 '!!4' T(e S!!e #d 5!' "r5o4' %e#$5e' ("e fro

!5e !o !5e 5#!rod4$ed r4e' #d re%4!5o#' !(! ("e r%e? /ee# 5%#ored /?

NGO' d4e !o !(e5r $op&e95!? #d $* of $p$5!? !o e#for$e Ho+e"er, 5#

!(e +*e of $orpor!e '$#d&' #!5o#&&? #d 5#!er#!5o#? e9per!' ("e /ee# 45$* !o

po5#! o4! !(!

re'po#'5/e %o"er##$e 5' 4#"o5d/&e 5# !(e (e&!( of #? or%#5'!5o# B? /e5#%5#"o"ed 5# '?'!e of $(e$*' #d /#$e' +5!( #%ee#!, /ord' $# pro!e$!

'!*e(oder'< 5#"e'!e#!' #d 5#!ere'!' /? e#'4r5#% !(! 'o4#d de$5'5o#' re de!(!

d"#$e !(e pr5r? o/@e$!5"e' of !(e or%#5'!5o# 5# # $$o4#!/e #de%? re'po#'5/e ##er

Cer?, 5# /o!( !(e p4/5$ #d !(e pr5"!e 'e$!or', %ood %o"er##$e 5' $o#'5dered #or

for re'po#'5/e #d $$o4#!/e or%#5'!5o# U#for!4#!e? ep('5' (' #o! /ee#

de o# !(e %o"er##$e of NGO' !o e#'4re "5/r#! #d $$o4#!/e 'e$!or A!(o4%(

!(e Bord' of NGO' re /? + "e'!ed +5!( !(e 'e re'po#'5/55!? of o"er'ee5#% !(e

or%#5'!5o#<' perfor#$e ' !(e /ord' of #? $orpor!e or%#5'!5o#, o'! NGO

/ord' f '(or! of !(5' d4!? 5# 'e"er& +?' Moreo"er, !(ere 5' $* of '4ff5$5e#!

$*#o+ed%ee#! !(! !(e pr5#$5pe' of %ood %o"er##$e pp? !o NGO' #d !(!

!(e 'e$!or '(o4&d per(p' /e '4/@e$!ed !o (5%(er '!#drd' of %o"er##$e 5f !(e5r

$5 !o /e5#% !(e /edro$* of !r#'pre#! #d $$o4#!/e $5"5 'o$5e!? 5' !o /e 4p(e&d

T(e NGO 'e$!or 5# B#%de'( 5#? e"o"ed ' 'o$5e!5e' or %ro4p' of

p(5#!(rop5$ 5#d5"5d4' +(o +ere red? !o +or* o# pro@e$!' !o ee! 'pe$5f5$ p4/5$

#eed', +5!(5# 'pe$5f5$ !5e fre, !o /r5d%e !(e %p o# p4/5$ 'er"5$e' #d 5# d4e

$o4r'e (#do"er !o !(e %o"er#e#! Ho+e"er, d4e !o &$* of $p$5!? +5!(5# !(e p4/5$

'e$!or !o dop! #d rep5$!e !(e'e pro%re', !(e NGO' ("e e#ded 4p r4##5#% !(e

'e for 'e"er ?er', ed5#% !o $o#!5#4!5o# of o'! 'er"5$e' #d e"e#!4? !o !(e

5#'!5!4!5o#5'!5o# of !(5' 'e$!or Co#'e4e#!?, !(5' r5'e' !(e #eed for

'!re#%!(e#5#% !(e Go"er##$e of !(e'e 5#'!5!4!5o#'

T(ere 5' #o do4/! !(! pre"e#!5o# #d pro$!5"e ppro$(e' !o or%#5'!5o# pro/5!? 5'

ore f"o4r/e !(# de5#% +5!( $op'e of NGO' d4e !o !(e /'e#$e of %ood

%o"er##$e '?'!e' Pro"5d5#% Go"er##$e pr5#$5pe' for !(5' 'e$!or 5' !(erefore

e''e#!5 ' e#' of red4$5#% !(e po!e#!5 r5'* of poor %o"er##$e +5!(5# !(e NGO

'e$!or !(! 5#$4de' 5#eff5$5e#!, 5#ppropr5!e or 5proper 4'e of f4#d' T(e de"eope#!

of NGO Go"er##$e pr5#$5pe' +5 #o! o#? (ep r5'e !(e perfor#$e '!#drd' of !(e

NGO 'e$!or /4! 'o 5#$re'e $$o4#!/55!? #d $! ' !oo for de!e$!5#% #d pre"e#!5#%

oop(oe' #d f+' 5# !(e $4rre#! re%4!5o#' T(5' 5# !4r# +5&& proo!e !(e e"o4!5o# of

5#'!5!4!5o#' $p/e of '4'!5#5#% perfor#$e +(5'! 5#!5#5#% %re!er $$o4#!/55!?




#d !r#'pre#$? /'ed o# '!ro#%er e!(5$ fo4#d!5o#'




In$o%*&ion

Good %o"er##$e 5' e''e#!5 for '4$$e''f4 or%#5'!5o#' T(e pr5#$5pe' of %ood

%o"er##$e - '!e+rd'(5p, !r#'pre#$?, $$o4#!/55!? #d 5#!er# $o#!ro' - re #o! @4'!

op!5o# e9!r' T(e? re !(e f4#de#! fo4#d!5o#' o# +(5$( effe$!5"e or%#5'!5o#'

re /45! I# !(e p4/&5$ 'e$!or, %o"er##$e 5' ' 5por!#!, or e"e# ore 5por!#!, !(#

5# !(e pr5"!e 'e$!or NGO' ' $5"5& 'o$5e!? or%#5'!5o#' '(o4d !(erefore repre'e#! !(e

"5e+' of !(e $5"5 'o$5e!? 5# !(e5r 'er"5$e' #d pro"5de p4/5$ d5'$o'4re' of !(e5r

or%#5!5o# 5''5o#, #%ee#!, f5##$5#%, pro%r' #d 5p$! Go"er##$e

pro$e''e' #d rr#%ee#!' re !(erefore e''e#!5 !o e#'4re !(! NGO' 5"e 4p !o !(e5r #e

).T(e !er Go"er##$e fro !(e NGO per'pe$!5"e ''4e' !(! NGO' pr!5$5p!e

5# !(e def5#5!5o#, pro!e$!5o# #d proo!5o# of p4/5$5#!ere'!

T(e Core o/@e$!5"e of !(e'e Go"er##$e Pr5#$5pe' 5' !o pro"5de '!r4$!4re !(ro4%(+(5$( !(e 5''5o# #d o/@e$!5"e' of !(e or%#5'!5o# re 'e! #d perfor#$e o#5!or5#%

5' $rr5ed o4! T(e'e Go"er##$e Pr5#$5pe' 'o 5 !o pro"5de 5#$e#!5"e' for !(e Bord

#d M#%ee#! of # NGO !o p4r'4e !(e 5''5o# of !(e or%#5'!5o# 5# !(e 5#!ere'!' of

!(e or%#5'!5o# #d 5!' '!*e(oder' +(5&e f$55!!5#% effe$!5"e o#5!or5#% #d eff5$5e#!

4'e of re'o4r$e', !(ere/? proo!5#% 5#'!5!4!5o#' !(! re +e-%o"er#ed #d $p/e of

'4'!5#ed perfor#$e

T(e Pr5#$5pe' $o#!5#ed 5# !(5' do$4e#! /45d 4po# e9per5e#$e' fro #!5o#&

5#5!5!5"e', re%4!5o#' #d 5#!er#!5o# /e'! pr$!5$e' e/od5ed 5# !(e OECD Pr5#$5pe'

#d Coo#+e!( G45de5#e' T(e prepr!5o# of !(5' +or* +' $o#'5dered 4#der

!(e d5re$!5o# #d $o#'4!!5o# +5!( profe''5o# +or*5#% %ro4p e/er', !(e T'*for$eo# Corpor!e Go"er##$e, INGO', NGO', do#or', #d o!(er re%4!or? 4!(or5!5e'

#d pr$!5!5o#er' +5!(5# !(e 'e$!or T(e'e %o"er##$e pr5#$5pe' 'o

/e#ef5!ed fro /rod e9po'4re #d 5#p4! fro !(e "r5o4' 'e$!or' repre'e#!ed 5# !(e

T'*for$e

I! 5' !(e e9pe$!!5o# !(! !(e'e Go"er##$e Pr5#$5pe' +5 %45de NGO pr$!5!5o#er', !(e

do#or' #d o!(er '!*e(oder' 5# !(e 'e$!or !o+rd' 5pro"ed %o"er##$e '!r4$!4re #d

'er"e ' ode of proper $orpor!e %o"er##$e '!r4$!4re T(e T'*for$e, !(erefore, ('

e#de"o4red fo$4' o# !(e pr$!5$ 4'e of !(e pr5#$5pe' W(5e 5#!er#!5o# %o"er#5#%

pr5#$5pe' #d '!#drd' 'er"ed ' %45de5#e', !(e 4#54e #%er5 $5r$4'!#$e' f$ed

/? B#%de'(5 NGO' (' /ee# !*e# 5#!o $$o4#! T(e Go"er##$e Pr5#$5pe' re'pe$!!(e de#d' of !(e pre'e#! +' #d ord5##$e' +(5&e '54&!#eo4'&? pro"5d5#%

d5re$!5o# for e9epr? $orpor!e %o"er##$e '?'!e' !o proo!e or%#5'!5o#

$$o4#!/55!? #d effe$!5"e#e'' fro f4!4re-or5e#!ed per'pe$!5"e T(e fo$4' of !(e

Go"er##$e Pr5#$5pe' 5' o# !(e NGO 'e$!or ' +(oe, /4! 'e$!5o# of !(e Go"er##$e

Pr5#$5p&e' (' /ee# ded5$!ed !o 'pe$5f5$? ddre'' !(e dd5!5o# 5''4e' !(! '(o4d /e

$o#'5dered /? NGO-MFI' !o $(5e"e %ood %o"er##$e

T(e e9!e#! !o +(5$( # NGO 5#!e%r!e' !(e pr5#$5pe' of %ood %o"er##$e 5' 5#$re'5#%? /e$o5#% # 5por!#! f$!or for '!*e(oder' #d f4#der'< de$5'5o#' B#%de'( ('

).Re+orded fro7 Go"er##$e 5# !(e P4/5$ Se$!orA# ECSAFA Per'pe$!5"e, ECSAFA, 4#e

)33)




!(e r%e'! #4/er of 5#!er#!5o# NGO' =INGO'> #d do#or %e#$5e' +ord+5de #d

(e#$e !(e 5#!er#!5o# fo+ of f4#d5#% #d (4# re'o4r$e' 5# !(e 'e$!or T(e de#d

for $orpor!e %o"er##$e +ord+5de /o!( 5# !(e pr5"!e #d 5# !(e p4/5$ 'e$!or 5'

!(erefore /e$o5#% # e''e#!5 f$!or !o e#/e $o4#!r5e' !o f4? /e#ef5! 5# !(e%o/ e$o#o5$ '?'!e I#'!5!4!5o#'

!(! d(ere#$e !o !(e'e 'e! of pr5#$5pe' +5 re5#for$e !(e $o#f5de#$e of 5#"e'!or' #d

do#or' 5# !(e 'e$!or #d 955'e '!*e(oderJ/e#ef5$5r? "4e

O,;"&i6"

T(e 5# p4rpo'e of !(e NGO Go"er##$e Pr5#$5pe' 5' !o 955e $orpor!e "4e /?

e#(#$5#% !(e !r#'pre#$? #d eff5$5e#$? !o proo!e '4'!5#/e 5#'!5!4!5o#' for !(e

f4!4re T(e Go"er##$e Pr5#$5pe' 'o 5 ! proo!5#% #d %5#5#% '!*e(oder !r4'! 5#

!(e 'e$!or /? proo!5#% !r#'pre#$? 5# !(e o"er oper!5o#' #d #%ee#! of

NGO' B'ed o# '4$( !r#'pre#$? #d re&5/&e #%ee#!, !(e Pr5#$5pe' (5%(5%(! !(e

e'!/5'(e#! of #%er5 '?'!e' !(! proo!e' $re!5"e #d pro%re''5"e e#!erpr5'e' 5#!(e NGO 'e$!or

T(e'e Go"er##$e Pr5#$5pe' re$o%#5e !(e d5"er'e '!*e(oder' +5!(5# !(e NGO 'e$!or

#d (o+ !(e NGO' $# ed5!e !(e5r 5#!ere'! !(ro4%( r!5o# #d f5r e#' !o $(5e"e

'!*e(oder #d 'o$5& repre'e#!!5o# !o '!re#%!(e# !(e5r "5/5&5!?

T(e Pr5#$5pe' 5 !o proo!e 5#'!5!4!5o#' !(! e9(5/5! 'e#'e of 'o$5 re'po#'5/55!?

+5!( '!r5$! 'e#'e of or5!? S4'!5#/e $5"5 'o$5e!? or%#5!5o#' $# e"o"e fro

fo4#der- dr5"e# or%#5!5o#' /? def5#5#% !(e roe of !(e /ord, profe''5o#

#%er' #d '!ff #d e#'4r5#% f5##$5 '4'!5#/55!? #d 4!o#o?

I# effe$!, !(e NGO Go"er##$e Pr5#$5pe' 'ee* !o proo!e !(e

fo&&o+5#%7

2 De"eope#! of "5/e 5#!er# %o"er##$e for or%#5!5o# effe$!5"e#e'', /e?o#d f5##$5 #d #%er5 $$o4#!/5&5!?

) S!r4$!4re' #d pro$e''e' !o def5#e or%#5!5o# 5''5o#J%o&'

. S!r4$!4re #d effe$!5"e#e'' of or%#5!5o# #%ee#! #d pro%r'0 E#'4r5#% f5##$5 '4'!5#/55!? #d ppropr5!e 4'e of

f4#d'

6 Cop5#$e +5!( e% #d d5#5'!r!5"e re%4&!5o#'

8 P4/5$ d5'$o'4re of or%#5!5o# 5''5o# #%ee#!, f5##$5#%, pro%r',

#d 5p$!

T(e $o#!e#! of !(e'e Go"er##$e Pr5#$5pe' re e"o4!5o#r? 5# #!4re #d '(o4d /e

re"5e+ed 5# 5%(! +5!( '5%#5f5$#! $(#%e' 5# $5r$4'!#$e' To re5# $ope!5!5"e 5#

$(#%5#% +ord, NGO' 4'! 5##o"!e #d dp! !(e5r %o"er##$e pr$!5$e 'o !(! !(e?

$# ee! #e+ de#d' #d %r'p #e+ oppor!4#5!5e' S55r?, !(e Go"er##$e

Pr5#$5pe' +5 !*e 5#!o $o#'5der!5o# #? re"5e+ 5# !(e %o"er#e#! re%4!5o#' 5#

!(e 'e$!or +(5&e pro"5d5#% '4ff5$5e#! fe95/55!? !o o+ 5#'!5!4!5o#' !o f4#$!5o# effe$!5"e&?

Con"ns #n% S$*&*$" of !" Go6"$n#n&" P$in&i'("s

T(e foo+5#% do$4e#! 5' d5"5ded 5#!o !(ree 'e$!5o#' T(e Pr5#$5pe' pre'e#!ed 5# !(e

Se$!5o# O#e of !(e do$4e#! $o"er 'e"e# re'7 =2> M5''5o# #d V5'5o# =)> T(e Bord




=.> T(e Roe of S!*e(oder', =0> H4# Re'o4r$e' =6> Co#f5$! of I#!ere'! =8> F5##$5

#d No#-F5##$5 D5'$o'4re' =:> F4#dr5'5#% Po5$? E$( of !(e 'e$!5o#' 5' (eded /?

'5#%e Pr5#$5p&e #d 5' foo+ed /? #4/er of '4ppor!5#% %45de5#e' Se$!5o# T+o of

!(5' do$4e#! $o#!5#' !(e 'pe$5f5$ dd5!5o# MFI-NGO %45de5#e' #d $o"er' !(e

foo+5#% re'7 =A> Bord, =B> Co4#5$!5o#, =C> F5##$5 D5'$o'4re, #d =D>

A4d5!or' Se$!5o# T(ree of !(5' do$4e#! $o#!5#', 'pe Ter' of Refere#$e', $o#f5$!

of 5#!ere'! po5$? #d $oe#!r? #d ##o!!5o#' o# !(e Pr5#$5pe' #d 5' 5#!e#ded

!o (ep reder' 4#der'!#d !(e r!5o#e !o pp? !(e Pr5#$5p&e'




NGO Go6"$n#n&" P$in&i'("s

U#der?5#% !(e Go"er##$e pr5#$5pe 5' 'e! of "4e', +(5$( ("e /ee# 5de#!5f5ed' /e5#% of $ore 5por!#$e !o #? NGO 'er"5#% !(e

$o4#5!? T(e'e 5#$&4de profe''5o#5', $$o4#!/55!?, 5#!e%r5!? #d

re'po#'5/5&5!?

SECTIONONE

I. Mission #n% Vision

P$in&i'(")

A NGO' re e'!/5'(ed for 'o$5 5''5o#, +(5$( 5' !o /e $(5e"ed !(ro4%(

'pe$5f5$ pro%re' #d 'er"5$e' T(e 5''5o# '!!ee#! !(erefore $!' '

%45de5#e for $(5e"5#% !(5' 'o$5 5''5o# T(e NGO '( $er? r!5$4!e !(e5r5''5o#, pro%re' #d 'er"5$e' 5# ##er !(! e#/e' !(e !o oper!e

eff5$5e#!? #d effe$!5"e&? !o+rd' $(5e"5#% !(! 'o$5 5''5o#

G*i%"(in"s)

B T(e Bord '( def5#e #d ppro"e !(e 5''5o# of !(e NGO #d ("e 5! $er?do$4e#!ed #d $o4#5$!ed

C T(e 5''5o# '!!ee#! '( /e re"5e+ed per5od5$? !o e#'4re ree"#$e !o$(#%5#% e#"5ro#e#! #d #eed'

D T(e Bord '( prepre S!!ee#! of V4e' !o %45de !(e oper!5o#' #d $4!4reof !(e NGO

E T(e Bord '( ppro"e '!r!e%5$ p# for !(e NGO ='4$( ' ##4 +or* p&#,. or 6 ?er p# e!$> !o e#'4re !(! 5!' oper!5o#' #d pro%re' re d5re$!ed

!o+rd' $(5e"5#% !(e '!!ed 5''5o#

F T(e Bord '( e#'4re !(! re'o4r$e' of !(e NGO re 4!55'ed for !(e oper!5o#'

#d pro%re' $$ord5#% !o !(e '!!ed 5''5o#, #d !(! '4$( re'o4r$e'

re effe$!5"e? #d eff5$5e#!? #%ed !(e Bord +5 f4r!(er 'ee* !o e#'4re !(!

!(e NGO (' '4ff5$5e#! re'o4r$e' !o f4f5 5!' 5''5o# !o '!5'f$!or? de%reeG T(e Bord '( e#'4re !(e NGO (' # e"4!5o# '?'!e !(! $# e'4re !(e

effe$!5"e#e'' #d eff5$5e#$? of pro%re' #d !(e5r o4!$oe' 5# 5#e +5!(

!(e NGO<' 5''5o# #d o/@e$!5"e', #d e#'4re !(! !(e NGO<' 5''5o# #d

o/@e$!5"e' re ppropr5!e for !(e $4rre#! pr5or5!? #eed' of 'o$5e!? #d !(e NGO<'

5#!e#ded /e#ef5$5r5e'

II. Bo#$%)0

Co+'osiion #n% S$*&*$"

P$in&i'("s)

A A# effe$!5"e /ord of d5re$!or', proper? $o#'!5!4!ed, +5!( 59 of prof5$5e#!

d5re$!or' pro"5d5#% f4 r#%e of ppropr5!e *#o+ed%e #d '*5' 5' !(e 5#$(p5#

of %ood %o"er##$e Bord' re re'po#'5/e for '4per"5'5#% #%er5&

perfor#$e 5# ee!5#% !(e '!!ed M5''5o# #d V5'5o# of !(e NGO', $op&5#$e

)0T(e !er /ord ' 4'ed 5# !(5' do$4e#! doe' #o! e'po4'e #? pr!5$4r /ord '!r4$!4re #d 5' e#!

!o e/r$e !(e d5ffere#! ode' of /ord '!r4$!4re' fo4#d 5# !(e NGO 'e$!or




+5!( pp5$/e +' #d re%4!5o#', #d pro!e$!5o# of '!*e(oder r5%(!' 5#

pr!5$4r !(e #eed' of 'o$5e!? #d !(e /e#ef5$5r5e'

B Bord '( ("e !er 55!' for 'er"5$e !o o+ for per5od5$ /ord

re@4"e#!5o# #d '4$$e''5o# Ter 55! 5' # effe$!5"e e$(#5' !o e#'4re

re%4r re#e+ +5!( #e+ Bord e/er' @o5#5#%C Bord e/er' +5 'er"e for ' o#% ' !(e? re of 'o4#d 5#d #d /e !o

$o#!r5/4!e !o !(e 5''5o# of !(e NGO

D O"err%e /ord' $# /e 4#+5ed? #d 5#effe$!4, /ord' !(! re !oo ' r4#

!(e r5'* of e9$4'5"5!? #d '!%#!5o# T(e /ord '(o4d !(erefore 5 for !(e

*5#d of e/er d5"er'5!? !(! feed' 5"e? de/!e #d re'po#'5/e de$5'5o#-

*5#%, ?e! '5e !(! o+' e/er' !o pr!5$5p!e f4? 5# d5'$4''5o#' #d

re$( !r4e $o#'e#'4'

G*i%"(in"s)

E Bord S!r4$!4re2 T(e /ord '(o4d /e $opo'ed of 59 of 45f5ed 5#d5"5d4' of

5#!e%r5!? +(o +5 !o%e!(er pro"5de d5"er'5!? of e9per5e#$e

*#o+ed%e #d '*5' for !(e d"#!%e of !(e NGO A! 5#54,

45f5ed e#' %ood +or*5#% *#o+ed%e 5# !(e

re' of de"e&ope#! $!5"5!5e' of !(e NGO, or

'pe$55'ed profe''5o# '4/@e$!' '4$( ' f5##$e, or of

!(e'e) T(e Bord of D5re$!or' of e$( NGO +5 prepre Bord C(r!er

$o"er5#% !(e '!r4$!4re, !er #d %e 55!' of d5re$!or', /ord'5e, oper!5o#', ppo5#!e#!', $o5!!ee', roe' #d 5''4e' of !(e /ord

. E$( /ord e/er '(o4d /e /e !o de"o!e '4ff5$5e#! !5e !o (5'J(erd4!5e' #d re'po#'5/5&5!5e'

0 Bord' '(o4d /e $opo'ed of '4/'!#!5 #4/er of 5#depe#de#!

d5re$!or' I#depe#de#! (ere e#5#%, e/er' +(o re #o! $o'e?

re!ed #or d5re$!? epo?ed /? !(e NGO or !o !(e e/er' of !(e

e9e$4!5"e #%ee#!, or forer '!ff of !(e NGO, or pre'e#! or

forer '!ff of or%#5'!5o#' +(5$( re $o'e? f4#$!5o#? 5#*ed

!o !(e NGO ' '4pp&5er', f5##$5er' or /e#ef5$5r5e'

6 T(e Bord of # NGO 5' 5/e !o d5'$o'e !o '!*e(oder', (o+ #?

f5? e/er' re '5!!5#% o# !(e Bord, *e? po'5!5o#' (ed #d

#? o!(er '4$( po!e#!5& $o#f5$!5#% 5#!ere'!' 5# !(e or%#5'!5o#

8 T(e C(5r #d CEO =or /? #? o!(er #e !(e (ed of #%ee#! 5'*#o+#> po'!' '(o4d /e 'epr!ed !o e#'4re !(! #o o#e per'o# or

/o$* of per'o#' (' 4#fe!!ered po+er #d !(! !(ere 5' # ppropr5!e

/#$e of po+er #d 4!(or5!? o# !(e /ord #d +5!(5# !(e

or%#5'!5o#F Ter &55!'

2 T(e Bord e/er' '(o4d re!5re 5# ro!!5o# =5e o#e-!(5rd of !(e

Bord re!5re ! e"er? AGM> Me/er' '(o4d ("e !er 55! of #o!

ore !(# ) =!+o> $o#'e$4!5"e !er'

) T(e C(5r of !(e Bord $# /e ppo5#!ed for !+o $o#'e$4!5"e !er' !oe#/e '!r!e%5$ $o#!5#45!?




. Re!5red e/er' re '4/@e$! !o re-ee$!5o# f!er /re!(5#% per5od< of

#o! &e'' !(# . =!(ree> ?er' /efore '!#d5#% for re-ee$!5o# !o !(e

Bord

G T(e Bord '(o4d $o#'5'! of #o! e'' !(# : e/er' #d #o! ore !(#

22 e/er')6

III. Bo#$% O'"$#ions

P$in&i'("s)

A T(e Bord '(o4d e#'4re !(oro4%( #d effe$!5"e pro$e'' 5# /ord ppo5#!e#!

!(! pro"5de' 59 of prof5$5e#! d5re$!or', e$( of +(o 5' /e !o dd "4e #d!o /r5#% 5#depe#de#! @4d%ee#! !o /er o# !(e de$5'5o#-*5#% pro$e''

B T(e #eed !o $! o# f4? 5#fored /'5' de#d' /'e e"e of e9per5e#$e

#d $ope!e#$e o# !(e Bord e/er'< pr! 5# order !o $rr? o4! !(e d4!? of '*5

#d $re T(e Bord e/er' #eed !o /e *#o+ed%e/e 5# !(e ree"#! re' of!(e NGO'< 'er"5$e' !o e#/e 5#fored #d de5/er!5"e de$5'5o#-*5#% #d

# /55!? !o 4#der'!#d #d e9e$4!e !(e 'pe$5f5$ re'po#'5/55!5e' 5po'ed o#

!(e /ord To /e f4? 5#fored, !(e Bord 4'! /e +re of +(! 5! #eed' !o

*#o+ #d 4'! e5!(er ("e, or /e /e !o $45re, !(5' *#o+&ed%e !(ro4%(

ppropr5!e or5e#!!5o# #d !r5#5#% of !(e Bord e/er'

C T(e Bord '(o4d e#'4re !(e or%#5'!5o#<' effe$!5"e oper!5o# #d 4'e

of re'o4r$e' /? o#5!or5#% #d e"4!5#% !(e perfor#$e' of !(e CEOJMD #d

!(e or%#5'!5o# ' +(o&e %5#'! 'e! !r%e!' Be'5de' o#5!or5#% !(e

M#%ee#! #d or%#5'!5o#& perfor#$e', !(e /ord

'(o4d pro"5de %45de5#e' for e'4r5#% 5!' o+#

effe$!5"e#e'' %5#'! 5!' or%#5'!5o#Q' 5''5o# #d '!r!e%?

D A Bord off5$5' '( ("e $er +r5!!e# @o/ de'$r5p!5o#' #d $o#!r$!' of

ppo5#!e#!' +(5$( '(o4d /e re"5e+ed e"er? ?er !o e#'4re !(e? '!5 r!5$4!e

!(e #eed of !(e NGO #d 5!' /e#ef5$5r5e' #d !(e roe' e/er' re p?5#% '

Bord e/er' =Spe @o/ de'$r5p!5o# ##e9ed 5# Se$!5o# !(ree>

G*i%"(in"s)

E See$!5o# #d Appo5#!e#!2 T(e Ge#er Bod? of !(e NGO +5 ppo5#! e/er' /? ee$!5o# or '

per !(e $o#'!5!4!5o#J/?+' T(e $opo'5!5o# of !(e /ord '(o4d /e

p##ed /? !(e +(oe Bord +5!( '!r!e%5$ $o#'5der!5o# #d

o/@e$!5"e' of !(e NGO 5# 5#d

) Bord 'ee$!5o# #d ppo5#!e#! '(o4d /e do#e !(ro4%( !r#'pre#! pro$e'' prefer/? !(ro4%( /ord #o5#!5o# '4/-$o5!!ee, #d

ppo5#!e#!' /? ee$!5o# ! proper? $o#'!5!4!ed AGM or EGM. T(e /ord '( dr+ 4p re!5ree#! ro!!5o# 5# order !o "o5d, ' fr

' po''5/e, '5!4!5o# 5# +(5$( #? reppo5#!e#!'

o$$4r '54!#eo4'? T(e re!5ree#! ro!!5o#

'( /e de %e#er&&? "5/e #d '(, 5# #?

e"e#!, /e p4! o# !(e NGO<' +e/'5!e #d p4/5$ do$4e#!'

)6

So$5e!5e' Re%5'!r!5o# A$! No I of 2183 re45re' 5#54 of : per'o#'




F Or5e#!!5o# #d Tr5#5#%2 A e/er' o# !*5#% off5$e '( re$e5"e or5e#!!5o# o# !(e oper!5o#

of !(e or%#5'!5o# #d !r5#5#% o# !(e5r f5d4$5r? roe',re'po#'5/55!5e' #d &5/5&5!5e' ' /ord e/er'

) T(e Bord '(o4d po''e'' !(e $ore $ope!e#$5e' #e$e''r? foreffe$!5"e %o"er##$e Bord e/er' '(o4d +or* !o $(5e"e !(e'e

$ope!e#$5e' !(ro4%( ree"#! Bord !r5#5#% #d de"e&ope#!

. Bord de"eope#! 'e''5o#' '(o4d /e $o#d4$!ed ! e'! o#$e ?er+5!( $er!5f5$!e +rded !o '(o+ pr!5$5p!5o#

G Mee!5#%'2 T(e Bord '( ee! ! e'! o#$e 5# e"er? . o#!(' T(e NGO<'

$o#'!5!4!5o# or r4e' '( '!!e !(e 4or4 re45red for ee!5#%,

+(5$( '( /e ! e'! 63K of !(e Bord, #d '(o4d

5#$&4de propor!5o# repre'e#!!5o# of !(e !o!

#4/er of e/er' =5f pp5$/e>) T(e C(5r 5' re'po#'5/e for $o#"e#5#% ee!5#%' ! !5e #d p&$e,

+(5$( f$55!!e' !(e pr!5$5p!5o# of /ord e/er', +5!(

rr#%ee#!' /? !(e Se$re!r?. Bord pper' '( /e $5r$4!ed 'o !(! /ord e/er' re$e5"e

!(e ! e'! o#e +ee* /efore !(e ee!5#% Bord ee!5#%'<

pro$eed5#%' #d de$5'5o#' '( /e 5#4!ed #d $5r$4!ed !o !(e +(oe

Bord ' 'oo# ' pr$!5$/e, #d #o! ore !(# o#e o#!( f!er !(e

ee!5#% I! 5' !(e re'po#'5/55!? of !(e C(5r !o 'e! !(e %e#d #d

rr#%e !(e prepr!5o#' #d d5'!r5/4!5o# of !(e /ord pper' +5!( !(e

Bord 'e$re!r?

0 Bord e/er' '( *e e"er? effor! !o !!e#d /ord ee!5#%'+5!( 5#54 !!e#d#$e r!e of #o! e'' !(# :6K d4r5#%

!(e5r

!e#4re #d '( #o! /'e#! !(e'e"e' +5!(o4! %ood re'o#' T(e

!!e#d#$e r!e' of 5#d5"5d4 /ord e/er' '( /e p4/5'(ed 5#

!(e ##4& repor!H A##4 E"&4!5o#

2 To 955'e eff5$5e#$? #d effe$!5"e#e'' of !(e /ord<' +or*', e$(

5#d5"5d4 d5re$!or<' perfor#$e '(o4d /e o#5!ored #d ppr5'ed

o# # ##4 /'5' #d !r5#5#% oppor!4#5!5e' #d ppropr5!e

de"eope#! 4#der!*e#

) T(e /ord '(o4d e"4!e !(e perfor#$e of !(e CEOJMD, o# ###4 /'5' I# pr$!5$e !(5' $# /e do#e /? !(e /ord ' +(oe or /?

$o5!!ee fored !o 'pe$5f5$? $o#d4$! CEOJMD e"4!5o# +5!(

!(e Bord C(5r !*5#% ed roe 5# !(e pro$e''

I T(e Bord '( ("e !(e foo+5#% $o5!!ee' for ore de!5ed $o#'5der!5o#

#d fro +(5$( 5! +5 re$e5"e re$oe#d!5o#' !o d5'$(r%e 5!' d4!5e' T(eBord (o+e"er $##o! dee%!e 5!' re'po#'5/55!? !o '4/-$o5!!ee'7

2 A F5##$e #d A4d5! Co5!!ee 4'! /e #d!or? A 'pe Ter'of refere#$e 5' 5#$4ded 5# Se$!5o# T(ree

) A Pro%re Co5!!ee 5' re$oe#ded

. A No5#!5o# #d H4# Re'o4r$e' Co5!!ee 5' re$oe#ded




IV. Ro("s of !" Bo#$%

P$in&i'(")A T(e Bord<' roe 5' !o pro"5de e#!repre#e4r5 eder'(5p !o !(e NGO +5!(5#

fre+or* of pr4de#! #d effe$!5"e $o#!ro' !(! e#/e' r5'* !o /e ''e''ed #d

#%ed T(e /ord '(o4d 'e! !(e NGO<' '!r!e%5$ 5', e#'4re !(! !(e

#e$e''r? f5##$5 #d (4# re'o4r$e' re 5# p$e for !(e NGO !o ee!

5!' o/@e$!5"e' #d re"5e+ #%ee#! perfor#$e T(e /ord '(o4d 'e! !(e

NGO<' "4e' #d '!#drd' #d e#'4re !(! 5!' o/5%!5o#' !o '!*e(oder' #d

/e#ef5$5r5e' re 4#der'!ood #d e! T(e Bord '(&& d5'$4'', 5# #? e"e#! !

e'! o#$e ?er, !(e $orpor!e '!r!e%? !(e r5'*' #d !(e 5p$! of !(e NGO'

pro%re, #d !(e re'4! of !(e ''e''e#! /? !(e /ord of !(e '!r4$!4re #d

oper!5o# of !(e 5#!er# r5'* #%ee#! #d $o#!ro '?'!e', ' +e '

#? '5%#5f5$#! $(#%e' ffe$!5#% !(e 'e T(e'e d5'$4''5o#' '( /e referred 5#!(e A##4 Bord Repor!'

G*i%"(in"s)

B I! 5' !(e re'po#'5/55!? of !(e Bord !o de!er5#e #d %4rd !(e p4rpo'e of!(e or%#5!5o# /?7

2 Se!!5#% %45de5#e' for #%ee#! #d re"5e+ !(e '!r!e%? of !(eor%#5!5o#, prepred /? #%ee#!

) M5#!5#5#% +re#e'' of %o"er#e#!, do#or po5$5e' #d o!(er

e9!er# f$!or' ffe$!5#% !(e +or* of !(e NGO. Ide#!5f?5#% e% o/5%!5o#' ree"#! !o !(e NGO #d e#'4r5#%

$op&5#$e0 De"eop5#% pro!o$o' 5# 5#e +5!( !(e 5''5o# #d "5'5o# of !(e NGO

6 E#'4r5#% !(e NGO 5' de5#% +5!( !(e $4rre#! pr5or5!? #eed' of 'o$5e!?

#d !(e 5#!e#ded /e#ef5$5r5e'8 E'!/5'(5#% $ode' of $o#d4$! for !(e /ord #d '!ff

: E'!/5'(5#% pr5#$5pe' #d po5$5e' for r4##5#% !(e or%#5'!5o#effe$!5"e?

1 De5#% +5!( $o#f5$! #d e#'4re # effe$!5"e $o#f5$! of 5#!ere'! po&5$?

; Pro!e$!5#% %5#'! /d p4/5$5!? /? $!5#% ' %ood /''dor' for !(e$4'e of !(e NGO

C I! 5' !(e re'po#'5/55!? of !(e Bord !o e#'4re !(e /55!? of !(e or%#5'!5o#!o oper!e

2 Re$r45! /ord #d CEOJMD #d re"5e+ ppo5#!e#!, reo" #d

re4#er!5o# of Se#5or M#%ee#!) B45d re!5o#'(5p'J$o5!e#! +5!( do#or' #d o!(er '!*e(o&der'

. I#d4$! #e+ /ord e/er'0 E#'4re !(e 5#!e%r5!? of f5##$5 5#for!5o#, f5##$5 $o#!ro #d

!(! !(e '?'!e' of r5'* #%ee#! re ro/4'! #d defe#'5/&e

6 Pro"5de Leder'(5p for !(e or%#5'!5o#8 F$55!!e $!5"5!5e' 5# 5#e +5!( !(e M5''5o#

: E#'4re "5/55!? #d proper #%ee#! of re'o4r$e'




D I! 5' !(e re'po#'5/55!? of !(e Bord !o o#5!or !(e $!5"5!? of !(e or%#5!5o#2 Se! !r%e!' #d o#5!or pro%re'' %5#'! !r%e!'

) Ide#!5f? o#% !er %o' 5# !er' of de"eope#! o4!$oe' #de"4!e effe$!5"e#e'' of NGO 5# $(5e"5#% !(e'e %o&'

. Appr5'e /4d%e!'0 Re"5e+ #d e"4!e CEOJMD $!5"5!?

6 Re"5e+ #%ee#!

8 Appr5'e '*5&&': Re"5e+ #d e"4!e 5!'e&f

1 E#'4re #%ee#! #d Bord '4$$e''5o# p&##5#%

V. O!"$ Bo#$% Iss*"s

P$in&i'("s)

A T(e !(ree 4#5"er' re45ree#!' for %ood NGO /ord e/er re$o5!e#!, 4#der'!#d5#% #d !5e A#? !+o +5!(o4! !(e !(5rd 5'

5#'4ff5$5e#!B Bord e/er' of !(e NGO' re "o4#!eer' #d !(erefore #o! e#!5!ed !o #? for

of $ope#'!5o# /e'5de' re5/4r'ee#!' !o $o"er re'o#/e !r#'por! $o'! #d

o!(er o4!-of- po$*e! $o'!' $!4? 5#$4rred 5# !(e5r 'er"5$e ' /ord e/er' o# /e(f of !(e NGO

G*i%"(in"s)

C Bord e/er' '(o4d #o! '5! o# !(e /ord' of ore !(# . NGO' ! !(e 'e

!5e

D Bord e/er' +(o re !o!? $o5!!ed !o 'er"5#% o# !(e Bord of NGO' =f4&&!5e profe''5o# Bord e/er'> #d re #o! 5#"o"ed 5# #? o!(er forof epo?e#! ? '5! o# !(e Bord of #o! ore !(# 6 o!(er NGO'

VI. G"n"$#( Bo%1

P$in&i'(")

A T(e f4#$!5o# of !(e Ge#er Bod? =GB> 5' !o '4per"5'e !(e /ord #d !(e

%e#er ff5r' of !(e NGO #d 5!' /4'5#e'' I# d5'$(r%5#% 5!' f4#$!5o#, !(e GB

'( /e %45ded /? !(e M5''5o# #d 5#!ere'!' of !(e NGO #d 5!' /4'5#e'', #d

'( !*e 5#!o $$o4#! !(e ree"#! 5#!ere'!' of !(e NGOQ' '!*e(oder' T(e

GB 5' re'po#'5/e for !(e 45!? of !(e o"er or%#5'!5o#& perfor#$e

G*i%"(in"s)

B T(e d5"5'5o# of d4!5e' +5!(5# !(e Ge#er Bod? #d !(e pro$ed4re of !(e Ge#er&

Bod? #d 5!' $(5r '( /e 5d do+# 5# !(e or%#5'!5o#<' $o#'!5!4!5o# T(e

Ge#er Bod? '( 5#$4de 5# !(e $o#'!5!4!5o# p''%e de5#% +5!( 5!' re!5o#'

+5!( !(e /ord, #d !(e %e#er ee!5#% of e/er' T(e NGO<'

$o#'!5!4!5o# '(, 5# #? e"e#!, /e p4! o# !(e NGO<' +e/'5!e =5f #?> o#% +5!(

o!(er p4/5$ do$4e#!'

C T(e foo+5#% 5#for!5o# /o4! e$( Ge#er Bod? #d Bord e/er '(,5# #? e"e#!, /e p4/5'(ed o# !(e NGOQ' +e/'5!e #d A##4 Repor!7

2 %e#der

) %e




. profe''5o#0 pr5#$5p po'5!5o#

6 #!5o#&5!?8 o!(er 5por!#! po'5!5o#', 5# 'o fr ' !(5' 5#for!5o# 5' ree"#! !o !(e

perfor#$e of !(e d4!5e' of !(e Ge#er Bod?J Bord e/er : d!e of 5#5!5 ppo5#!e#!

1 !(e $4rre#! !er of off5$e

D T(e Ge#er Bod? '( rr#%e for !(e re$e5p!, re$ord5#% #d (#d5#%

of $op5#!' re$e5"ed /? !(e NGO 5# re'pe$! of !(e f5##$5 repor!5#%, !(e

5#!er# r5'* #%ee#! #d $o#!ro '?'!e', #d !(e 4d5! I#!er#

Q+(5'!e/o+er'Q '( ("e !(e oppor!4#5!?, +5!(o4! @eoprd5'5#% !(e5r e%

po'5!5o#, !o repor! o# 5rre%4r5!5e' 5# !(e /o"e-e#!5o#ed !!er' #d !o

repor! $op5#!' /o4! e/er' of !(e /ord !o !(e $(5r# of !(e Ge#er Bod?E T(e Ge#er Bod? '( ee! 5# $$ord#$e +5!( f59ed '$(ed4e #d e/er'

+(o re fre4e#!? /'e#! '( /e '*ed !o e9p5# !(e5r#o#!!e#d#$e

F T(e %e#er d4!5e' of !(e Ge#er Bod? ? /e deeed !o 5#$4de '4per"5'5o# of!(e fo&&o+5#%7

2 $(5e"ee#! of !(e NGO<' o/@e$!5"e') $orpor!e '!r!e%? #d !(e r5'*' 5#(ere#! !o !(e /4'5#e'' $!5"5!5e' of

!(e NGO

. !(e '!r4$!4re #d oper!5o# of !(e 5#!er# r5'* #%ee#! #d $o#!ro'?'!e'

0 !(e f5##$5 repor!5#% pro$e''6 o/'er"#$e of !(e e%5'!5o# #d re%4&!5o#'

G T(e Ge#er Bod? '( d5'$4'', ! e'! o#$e ?er, /o!( 5!' o+# f4#$!5o#5#% #d!(! of !(e 5#d5"5d4 e/er', #d !(e de'5red prof5e, $opo'5!5o##d $ope!e#$e of !(e Bord

H T(e Ge#er Bod? '( 'o d5'$4'', ! e'! o#$e ?er, /o!( !(e f4#$!5o#5#% of

!(e /ord ' # or%# of !(e NGO #d !(e perfor#$e of !(e 5#d5"5d4

e/er', #d !(e $o#$4'5o#' of !(e'e e"4!5o#' T(e'e d5'$4''5o#'

#d e"4!5o#' '( /e referred 5# !(e ##4 repor!I T(e Ge#er Bod? '( /e ! 5/er!? !o dee%!e +5!( 4!(or5!? !o !(e Bord #?

of !(e /o"e f4#$!5o#' e9$ep! !(o'e 'pe$5f5$ !o 5!' '4per"5'or? roe #d

o#5!or !(e 'e ! e'! o#$e ?er A '4$( d4!5e' 'o dee%!ed '(o4d /e

referred !o 5# !(e GB<' repor!

VII. S#7"!o(%"$ R"'$"s"n#ion

P$in&i'(")

A NGO' re fored +5!( !(e 5''5o# !o pro"5de 5por!#! 'er"5$e' !o !(e5r $&5e#!'

#d !o !(e $o4#5!? T(e? '( /e /e !o $o4#5$!e o# !!er' re!5#% !o

5!' 5''5o#, pro%re' or $!5"5!5e' !o !(e p4/5$ #d '!*e(oder' #d re'po#d

red5? !o re4e'!' for '4$( 5#for!5o# NGO' '( e#'4re e#' of

'!*e(oder repre'e#!!5o# !o e#'4re !(! !(e or%#5'!5o#<' po5$5e' ddre'' !(e

#eed of !(e'e '!*e(oder' #d of !(e $o4#5!? !(e? re fored !o 'er"e

Be#ef5$5r? repre'e#!!5o# '(o4d /e dop!ed 5# ##er !(! +o4d #o! red4$e




!(e pro$e'' !o !o*e#5' or ed !o !(e r5'* of r4##5#% !(e or%#5'!5o# /?

/e#ef5$5r? refere#d4

G*i%"(in"s)

B Be#ef5$5r? repre'e#!!5o#2 T(e or%#5'!5o# '( ("e fre4e#! $o4#5$!5o#' +5!( $5e#!'

##4? !(ro4%( e$(#5'' '4$( ' $5e#! %ro4p +or*'(op' !o

e#'4re $5e#! "5e+' re repre'e#!ed 5# !(e '!r!e%?) Co4#5$!5o#' fro #? '4$( $5e#! %ro4p '( /e pr5#!ed #d

5#$orpor!ed 5#!o !(e pro%re !o e#'4re !(e pro%re' offered re#eed-/'ed

. T(e NGO '( d5'$o'e !(e foo+5#% 5# 5!' A##4 repor! !o e#'4re

!(! !(e or%#5'!5o# 5' +e 5#fored /o4! 5!' $(5e"ee#!', !(eree"#$e of 5!' pro%re' #d o4!re$( !o !(e $o4#5!?7

T(e #4/er of $5e#!' !(e or%#5'!5o# 5' re$(5#% 5#$4d5#% !(e5#d5re$! $5e#!' '4$( ' e/er' #d #4/er' of f55e' $o"ered

/ T(e #4/er' of epo?ee' +5!(5# !(e or%#5'!5o#

$ Ho+ /e#ef5$5r? "5e+' re repre'e#!ed 5# !(e pro%re #d!(e e!(od' 4'ed /? !(e NGO !o e#'4re repre'e#!!5o#

C Do#or repre'e#!!5o#

2 A' o#e of !(e *e? '!*e(oder', !(e NGO' '( 5#!e%r!e do#or po5$5e' 5#!o !(e5r pro%re' 5# order !o ee! !(e re45red '!#drd'

%reed 4po# for f4#d5#%) NGO' +5 e#de"o4r !o *eep !(e do#or' 5#fored of !(e pro%re'' #d

$(#%e' 5# !(e pro%re /? 5#"5!5#% !(e !o !!e#d *e?

ee!5#%' '4$( ' !(e AGM #d +or*'(op'

D T(e NGO, ' repre'e#!!5"e of 'o$5e!?<' "5e+' #d #eed', '(o4d e#'4re !(!72 T(e? re $$e''5/e !o !(e %e#er p4/5$ #d $rr? o4! !(e5r 'er"5$e' 5#

!r#'pre#! ##er) T(e? '(o4d $5r$4!e !(e5r A##4 Repor!' 5# B#% #d E#%5'(

!o ree"#! f$55!5e', '4$( ' p4/5$ 5/rr5e', e!$

. T(e? fre4e#!? re"5e+ !(e5r 5''5o# '!!ee#! #d !(e5r 'er"5$e' !o

e#'4re !(! !(e? re '!5 $o#'5'!e#! +5!( !(e #eed' of !(e $o4#5!5e'

!(e? repre'e#!

VIII. H*+#n R"so*$&"s

P$in&i'(")

A H4# re'o4r$e' re o#e of !(e o'! 5por!#! re'o4r$e' of NGO' NGO' ("e

poo of /o!( p5d '!ff #d "o4#!eer' !o r4# 5!' oper!5o#' #d pro%re' NGO' '(&& ("e (4# re'o4r$e po5$5e' !o ddre'' /o!( !(e'e %ro4p'

G*i%"(in"s)

B T(ere '( /e $er +r5!!e# (4# re'o4r$e po5$5e' ppro"ed /? !(e Bord for

/o!( p5d '!ff #d "o4#!eer' S4$( po5$5e' '( $o"er re' 5#$4d5#%re$r45!e#!, re4#er!5o#, /e#ef5!', !r5#5#%, de"eope#!, perfor#$e




ppr5', d5'$5p5#r? $!5o#' e!$ 5# $$ord#$e +5!( !(e Epo?e#! + #d

pp5$/e +' of B#%&de'(

C T(e (4# re'o4r$e po5$5e' '( 5 !o !!r$! !(e r5%(! '!ff #d "o4#!eer' +5!(

!(e ppropr5!e !?pe #d e"e of 45f5$!5o# #d e9per5e#$e

D T(e Bord '( e#'4re f5r #d !r#'pre#! perfor#$e re"5e+ #d ppr5''?'!e for '!ff #d "o4#!eer' +(ere ppropr5!e

E T(e Bord '( e#'4re '?'!e #d pro$e'' !o 5de#!5f? !r5#5#% #eed' of '!ff #d

"o4#!eer' !o e45p !(e +5!( !(e #e$e''r? '*5' !o perfor !(e5r

@o/' effe$!5"e?

F T(e Bord '( e#'4re '?'!e !o ddre'' %r5e"#$e' #d re'o"e $o#f5$!' for'!ff #d "o&4#!eer'

G T(e Bord '( e#'4re # ppropr5!e #d effe$!5"e $(##e of $o4#5$!5o#

for '!ff #d "o4#!eer' for feed/$* #d e9$(#%e of

5#for!5o#

H For NGO' !(! e#%%e "o4#!eer' #d '!ff for +or* 5#"o"5#% $(5dre# #d o!(er "4#er/e %ro4p' =e% !(e 5#!ee$!4? d5'/ed, /4'e "5$!5', fr5 eder?#d de'!5!4!e>, !(ere '( /e po5$5e' #d pro$ed4re' for !(e '$ree#5#% of"o4#!eer' #d '!ff #d !(ere '(&& /e proper '4per"5'5o# #d !r5#5#% for !(e

I/. Conf(i& of In"$"s

P$in&i'(")

A T(e NGO Bord, '!ff #d "o4#!eer' 'er"5#% !(e NGO '( $! 5# !(e /e'! 5#!ere'!

of !(e NGO #d 5!' Be#ef5$5r5e' +5!( f4 d4e re%rd !o !(e o"err5d5#% 5#!ere'!' of

!(e 'o$5e!? ' +(oe T(ere '(o4d /e #o "e'!ed or per'o# 5#!ere'! or 5#!ere'!

of !(5rd pr!5e' Cer po5$5e' #d pro$ed4re' '( /e 'e! #d e'4re' !*e# !o pre"e#! $!4&, po!e#!5& or per$e5"ed $o#f5$! of 5#!ere'! !(! $o4d ffe$! !(e

5#!e%r5!?, f5r#e'' #d $$o4#!/55!? of !(e NGO =Spe $o#f5$! of 5#!ere'!

po5$? 5# Se$!5o# T(ree>

G*i%"(in"s)

B T(e Bord '( e'!/5'( $er +r5!!e# po5$5e' o# e'4re' !o "o5d $o#f5$!

of 5#!ere'! 5# re' +(ere '4$( $o#f5$! ? r5'eC To 4p(od !(e Bord<' 5#depe#de#$e, 5#!e%r5!? #d o/@e$!5"5!?, !(e Bord '(o4&d

#o! /e $opr5'ed of 5ed5!e f5? e/er' of !(e e9e$4!5"e !e,

fo4#der', do#or' or 5# /e#ef5$5r5e'

D I# #? e"e#!, #o Bord e/er' (od5#% *e? po'5!5o#' +5!(5# !(e Bord #d !(eor%#5'!5o# '( /e f5? e/er' re!ed /? /oodJ rr5%e or dop!5o#

E E9pe' of re' +(ere $o#f5$! 4'! /e d5'$o'ed re, /4! re #o! 55!ed !o7

2 C4rre#!, p'! or po!e#!5 $o#!r$!' +5!( "e#dor') Ve'!ed 5#!ere'! 5# o!(er or%#5'!5o#' !(! ("e de5#%' or re&!5o#'(5p

+5!( !(e NGO. o5#! Ve#!4re'

0 Re$r45!e#! of '!ff or /ord e/er +5!( $o'e re&!5o#'(5p




/. Fin#n&i#( #n% Non Fin#n&i#( Dis&(os*$"s

P$in&i'(")

A NGO' /e5#% "o4#!r? or%#5'!5o#', pro"5d5#% 'er"5$e' for !(e %ood of !(e p4/5$#d ("5#% do#!ed f4#d' ' !(e5r @or 'o4r$e of 5#$oe for !(e5r

oper!5o#', '( ("e 'o4#d f5##$5& #%ee#! #d $op5#$e +5!(

pp5$/e +' !o e#'4re $$o4#!/e, !r#'pre#! #d e%5!5!e 4'e of !(e5r

re'o4r$e' T(e NGO'

'( deo#'!r!e !(e5r ope##e'' !o !(e p4/5$ /? pro"5d5#% !(e5r *e? '!*e(oder'

#d !(e p4/&5$ +5!( 5#for!5o# /o4! !(e5r 5''5o#, pro%re, $!5"5!5e'

#d f5##$e'

G*i%"(in"s)

T(e Bord +5 e#'4re (5%( '!#drd' of f5##$5 #d #o#-f5##$5 d5'$o'4re' $o"er5#%

!(e fo&&o+5#%7B A4d5! of F5##$5 A$$o4#!' #d oper!5o#' $o#d5!5o#' of !(e NGO

2 NGO' +5!( /4d%e! e9$eed5#% T* 2,333,333 '( ppo5#! # I#!er#&A4d5!or

) T(e Bord '( e#'4re # ##4 4d5! of f5##$5 $$o4#!' /? #

ppro"ed E9!er# A4d5!or. T(e Bord '( e#'4re 5#!er# $o#!ro '?'!e' +5!( do$4e#!ed

pro$ed4re'

C O"er per$e#!%e of Ad5#5'!r!5"e $o'! %5#'! $!4or%#5'!5o#<' f4#d'J/4d%e!

2 T(e o"er d5#5'!r!5"e $o'! $opred !o !(e or%#5'!5o#' !o!

f4#d '(o4&d #o! e9$eed 26K of !o! f4#d'J/4d%e! 5de#!5f?5#% /o!(%e#er or%#5'!5o#& o"er(ed #d d5#5'!r!5o# #d pro%re

#%ee#! $o'!') I# !(e e"e#! !(! # or%#5'!5o#<' d5#5'!r!5"e $o'! e9$eed' !(5'

55!, !(e Bord +5 /e re45red !o 5#$4de '!!ee#! e9p5#5#% !(ere'o#' for !(5' de"5!5o# 5# !(e A##4 Repor!

D I#"e'!e#! p# #d $p5! 5#"e'!e#!' =5f #?>2 T(e NGO '( 5#!5# F59ed A''e!' Re%5'!er !o $$o4#! for !(e

f59ed ''e!' #d !(e5r 4pd!ed $!4 "4e %5#'! /oo* "&4e

) T(e Bord '( p4! 5# p$e po5$? !o e#'4re !(! !(e f$55!5e' #d

f59ed ''e!' of !(e NGO re eff5$5e#!? 4!55'ed for 954 "4e

of !(e or%#5'!5o#E Pro$4ree#! pro$ed4re' #d $o#!ro&

2 T(e NGO, +5!( !(e 4!(or5!? of !(e Bord '( $ for 4o!!5o#' or

!e#der +(ere !(e p4r$('e of %ood' or 'er"5$e' e9$eed' !(e "4e of T* 633,333 or #? o!(er o4#! ' per !(e or%#5'!5o#<' $o#'!5!4!5o#

) C(e4e' #d o!(er ode for p?e#!' or +5!(dr+' fro !(e NGO<' /#* $$o4#! '( /e '5%#ed /? ! e'! ) =!+o> 4!(or5'ed '5%#!or5e'

F A$$o4#!5#% S!#drd'

2 F5##$5 '!!ee#!' +5!( $opr!5"e /4d%e! f5%4re' '( /e

pre'e#!ed ! !(e Bord ee!5#%, +5!( #?'5' #d e9p#!5o#' for

@or "r5#$e', 5f #?, for Bord d5'$4''5o# #d dop!5o#




) T(e Bord of NGO' +5!( # or%#5'!5o# /4d%e! e9$eed5#% T*2333,333 '( e#'4re per5od5$ 5#!er# 4d5! o# $o#!ro&',

pro$e''e'. A##4 $$o4#!' '( /e 5# $$ord#$e +5!( I#!er#!5o#&

A$$o4#!5#% S!#drd' ' dop!ed /? B#%de'(G Appo5#!e#! #d Ter' of A4d5!or'

2 A4d5!or' '( /e ppo5#!ed #d ppro"ed ! !(e AGM /? !(e

Ge#er Bod? of e/er') A4d5!or' +5 /e ppo5#!ed for !er of . =!(ree> ?er' #d

954 !er of 6 =f5"e> ?er' T(5' 5' !o e#'4re !r#'pre#$? #d4!(e#!5$5!? of !(e A4d5!or'< repor! #d 'o e#'4re '!r!e%5$$o#!5#45!?

/I. F*n%$#isin Po(i&i"s

P$in&i'(")

A C(r5!/e do#!5o#' re # 5por!#! 'o4r$e of f5##$5 '4ppor! for NGO'

NGO' '( dop! proper pro$ed4re' !o e#'4re (o#e'! #d e!(5$ f4#dr5'5#%

po5$5e' de'!5#ed 'oe? for !(e $4'e' of !(e

NGO'

G*i%"(in"s)

T(e Bord '(o4d !(erefore e#'4re ' fo&&o+'7

B T(e NGO '( !*e $re !o e#'4re !(! 'o5$5!!5o# !er5' $o#'5'!' of

$$4r!e 5#for!5o# #d refe$! !(e NGO<' 5''5o# #d 5#!e#ded 4'e of !(e

'o5$5!ed f4#d'C T(e f4#dr5'5#% 'o5$5!!5o# !er5 '( re'pe$! !(e d5%#5!? of !(e $5e#!'

#d $o#f5de#!5&5!? of !(e5r per'o# 5#for!5o#D T(e NGO '( "o5d r5'5#% e9$e''5"e f4#d' !(! re *ep! 5# re'er"e' 5#'!ed of

/e5#% 4!55'ed 5# !(e pro%re' #d '( 5# #? $'e e9er$5'e d4e pr4de#$e

5# #%5#% !(e'e re'er"e'

E T(e NGO' '( e#'4re !(! !(e do#!5o#' #d f4#d' re proper? #%ed

#d $$o4#!ed for T(ere '( /e !5e? re$e5p!5#% #d prop! /#*5#% of

f4#d', prop! 5''4#$e of !9-ded4$!5/e re$e5p! =5f pp5$/e> #d prop!

prod4$!5o# of 4d5!ed '!!ee#!' of I#$oe #d E9pe#d5!4re' ! !(e e#d of e$(

f5##$5 ?erF T(e NGO '( ("e # e9p5$5! po5$? 5# 5!' $o#'!5!4!5o# $o"er5#% !(e d5'!r5/4!5o#

of #? 4#4'ed f4#d' !o do#or' or !o e45"e#! NGO' +5!( '55r "5'5o# 5# !(ee"e#! of d5'$o#!5#4!5o# of oper!5o#' of !(e NGO

G NGO' +5!( ore !(# o#e /#* $$o4#! 4'! d5'$o'e $$o4#!' #d $$o4#!

de!5' !o !(e5r I#!er# #d E9!er#

A4d5!or'H T(e NGO' '( e#'4re !(! !(e f4#d #d do#!5o#' re 4'ed 5# $$ord#$e +5!(

do#or'< NGO !er' of %reee#! T(e NGO +(e#e"er pp5$/e #d pr$!5$/e, +5 ("e !o o/!5# !(e e9pre'' $o#'e#! of !(e do#or /efore !er5#%!(e $o#d5!5o#' of !(e f4#d or do#!5o#'

I NGO' '( #o! p?, 'ee* or $$ep! #? do#!5o#' re!ed !o #? po5!5$ pr!? !#? !5e

NGO' '( #o! r5'e f4#d' o# $o5''5o# /'5'




SECTIONTWO

MFI GUIDELINES

I#$4d5#% !(e pr5#$5pe' #d %45de5#e' e#!5o#ed /o"e, !(e foo+5#% dd5!5o#&%45de5#e' pp? !o NGO-MFI'

I. Bo#$% <*#(ifi&#ions

A T(e Bord of MFI' '( ("e 5#54 of ) =!+o> Bord e/er' +5!(

f5##$5 /$*%ro4#d #d ! e'! 2 =o#e> e/er +5!( MFI /$*%ro4#dB I# !(e e"e#! !(! !(e NGO 5' 5#"o"ed 5# o!(er de"eope#! $!5"5!? /e'5de' M5$ro

F5##$e =MF>, !(e? '( ("e 'pe$5 MF pro%re $o5!!ee !(! +5 de&

+5!( !(e MF 5''4e' #d e#'4re' !(! !(e pro%re ee!' !(e re45ree#!'

pp5$/e !o !(e 'e$!or

II. Co++*ni&#ions

A For !(e Bord of # MFI !o oper!e effe$!5"e? !(e? '( re$e5"e !(e

fo&&o+5#% $o4#5$!5o#' fro #%ee#! o# o#!(? /'5'72 De!5' of Lo# Por!fo&5o

) Copre(e#'5"e f5##$5 repor!. Lo# rep?e#! d4e #d #o! re$e5"ed0 Prof5!/55!? of 5#d5"5d4 o# prod4$!'

6 C'eod of Cred5! off5$er'8 Vr5#$e 5# /4d%e! fore$'!, o# por!fo5o, 545d5!?, 5#$oe #d

e9pe#'e #d $!4 re'4&!': R!e' of I#!ere'!

1 Lo# o'' pro"5'5o#

B T(e Bord '( /e +e "er'ed +5!( !(e 5#!erpre!!5o#' of !(e /o"e 5#for!5o##d !(e5r ree"#$e !o !(e or%#5'!5o#<' '!r!e%?

C T(e or%#5'!5o# '( ("e fre4e#! $o4#5$!5o#' +5!( $5e#!' !(ro4%( ##4+or*'(op' '4$( ' C(5ef e#dr =C5e#! %ro4p> +or*'(op' !o e#'4re $5e#! "5e+'re repre'e#!ed 5# !(e '!r!e%?

D Co4#5$!5o#' fro e#dr =C5e#! %ro4p> +or*'(op' '( /e pr5#!ed #d

5#$orpor!ed 5#!o !(e pro%re !o e#'4re !(e pro%re' offered re #eed-

/'ed

E T(e or%#5'!5o# '( pr5#! 5!' A##4 Repor! 5# /o!( E#%5'( #d B#%#d

e#'4re !(! 5! 5' +5de? d5'!r5/4!ed #d $$e''5/e !o '!*e(o&der'

III. Fin#n&i#( %is&(os*$"s

A I#$4d5#% !(e /o"e f5##$5 d5'$o'4re' MFI' '( 'o d5'$o'e !(efoo+5#% f5##$5 5#for!5o# 5# !(e5r A##4 Repor!7




2 Por!fo5o '5e) Lo# '5e

. S"5#%' '5e0 Re5#"e'!ed per$e#!%e'

6 Rep?e#! r!e'8 Def4! r!e' +5!( r#%e #d "er%e '5e of def4&!

: A#?'5' of def4! $5e#!' #d $5r$4'!#$e'

1 T?pe' of 5#"e'!e#!' #d per$e#!%e of $p5! $!4? 5#"e'!ed; M5#54 of !(ree ?er' f5##$5 !re#d

IV. A*%io$s

A A MFI' '(o4d ("e e9!er# 5#depe#de#! #d rep4!ed 4d5!or' !o $o#d4$! !(e

##4 4d5! of $$o4#!' of !(e or%#5'!5o#

B I! 5' (5%(? re$oe#ded !(! MFI' +5!( o# por!fo5o of T 2,333,333o4#! '( ("e I#!er# A4d5!or'

C A##4 $$o4#!' '( /e 5# $$ord#$e +5!( I#!er#!5o# A$$o4#!5#% S!#drd'' dop!ed /? B#%&de'(

D A '!!ee#!' of 4d5!ed repor!' '( /e pr5#!ed 5# !(e A##4 Repor! of!(e or%#5'!5o#

E T(e A4d5!or'< repor! '(o4d #o! o#? %5"e f5##$5 '!!4' of !(e or%#5'!5o# /4! 'o $&r5f? I#!er# Co#!ro '?'!e' dop!ed /? !(e or%#5'!5o# !o pro!e$!

5!' re'o4r$e'

F Do#or' '(o4d re"5e+ !(e 4d5!or'< repor!' !o e#'4re !(! !(e? offer !r4e #d f5rrepor! o# !(e or%#5'!5o#<' oper!5o#' #d f5##$e'




SECTION THREE

ANNE/ =) COMMENTAR> AND

ANNOTATIONS)8

I. Ro(" An% R"s'onsi,i(ii"s of Bo#$%s of Di$"&o$s

Mo'! of !(e 5!er!4re o# %o"er##$e fo$4'e' 5!' #?'5' +5!(5# !(e fre+or* of %5"e#

$orpor!e '!r4$!4re7 for-prof5! $orpor!5o#, #o#-prof5! e#!5!?, or p4/5$ %e#$? S4$(

ppro$(e' 5p&5$5!&? ''4e !(! !(e /ord of d5re$!or'< /e("5o4r 5' def5#ed /?

!(e $orpor!e '!r4$!4re 5! %o"er#' W(5&e $*#o+ed%5#% !(!

$orpor!e '!r4$!4re ffe$!' !(e $(5e"ee#! of effe$!5"e %o"er##$e, 5! doe' #o! def5#e

5! T(e foo+5#% 5' /rod def5#5!5o# of effe$!5"e

%o"er##$e !(! $# /e pp5ed re%rde'' of !(e $orpor!e '!r4$!4re of # 5#'!5!4!5o#

A /ord of d5re$!or' 5' e#!r4'!ed +5!( !(e f5d4$5r? ff5r' of !(e $orpor!5o# T(e !er

f5d4$5r? refer' !o per'o# or per'o#' !o +(o proper!? or po+er 5' e#!r4'!ed for !(e

/e#ef5! of #o!(er Tre!5#% d5re$!or' #d #%er' ' f5d4$5r5e' pro"5de' e$(#5'

for 5po'5#% '#$!5o#' 5f !(e? f5 !o e9er$5'e !(e5r re'po#'5/55!5e' !o !(e

$orpor!5o#, +5!(o4! #e$e''r5? re45r5#% !(! of !(o'e re'po#'5/55!5e' /e de!5ed 5#

d"#$e A' e9p5#ed /? e% '$(or' !(e f5d4$5r? pr5#$5pe 5' # !er#!5"e !o

e/or!e pro5'e' #d e9!r o#5!or5#% I! rep$e' pr5or '4per"5'5o# +5!( de!erre#$e,

4$( ' $r55# + 4'e' pe#!5e' for /#* ro//er? r!(er !(# p!-do+# 'er$(e'

of e"er?o#e e#!er5#% /#*'

):

II. D*i"s of # Bo#$% Di$"&o$

T(e '!#drd' of $o#d4$! pp5$/e !o 5#d5"5d4 /ord d5re$!or' f 5#!o

!(ree $!e%or5e'7 D4!? of Cre, D4!? of Lo?!?, #d D4!? of O/ed5e#$e T(e'e

$o#$ep!' pro"5de $ode of /e("5or !(! 'er"e' !o fre !(e +? /ord e/er' $rr?

o4! !(e5r re'pe$!5"e roe' #d re'po#'5/5&5!5e'

A D4!? of CreT(e D4!? of Cre $' o# d5re$!or !o pr!5$5p!e 5# !(e de$5'5o#' of !(e /ord #d !o /e5#fored o# !(e d! ree"#! !o '4$( de$5'5o#' A $oo# '!!ee#! of !(e D4!? ofCre

'*' d5re$!or =2> !o /e re'o#/? 5#fored, =)> !o pr!5$5p!e 5# de$5'5o#', #d =.> !o do'o 5# %ood f5!( #d +5!( !(e $re of # ord5#r5? pr4de#! per'o# 5#

'55r $5r$4'!#$e' To d5'$(r%e !(e D4!? of Cre eff5$5e#!? #d effe$!5"e?,

d5re$!or' 4'! !!e#d ee!5#%', e9er$5'e 5#depe#de#! @4d%e#!, #d e#'4re !(! !(e? ("e

# ppropr5!e e"e of 4#der'!#d5#% of !(e 5''4e' $r5!5$ !o !(e 5#'!5!4!5o#

B D4!? of Lo?&!?

T(e D4!? of Lo?!? re45re' d5re$!or' !o e9er$5'e !(e5r po+er' 5# !(e 5#!ere'! of!(e $orpor!5o# #d #o! 5# !(e5r o+# 5#!ere'! or 5# !(e 5#!ere'! of #o!(er e#!5!? or per'o#B? ''45#% /ord po'5!5o#, d5re$!or' $*#o+ed%e !(! for #? $orpor!e $!5"5!?, !(e

/e'!




)8MFI Go"er##$e Re"5e+, o'ep(5#e O%4! #d SM R(#, 'po#'ored /? DFID-

B#%de'(J B#%de'( MFI Lo$ Co#'4!!5"e Gro4p):

Fr#* H E'!er/roo* #d D#5e R

F5'$(e




5#!ere'!' of !(e $orpor!5o# 4'! pre"5 o"er !(e5r 5#d5"5d4 5#!ere'!' or !(e

pr!5$4r 5#!ere'!' of !(e $o#'!5!4e#$? !(! 'ee$!ed !(e

T(e D4!? of Lo?!? pr5r5? re!e' !o $o#f5$!' of 5#!ere'!, $orpor!e oppor!4#5!?, #d

$o#f5de#!55!? D5re$!or' ? ("e 5#!ere'!' 5# $o#f5$! +5!( !(o'e of !(e $orpor!5o# T(e

D4!? of Lo?!? re45re' !(! d5re$!or /e $o#'$5o4' of !(e po!e#!5 for '4$( $o#f5$!'

#d $! +5!( $#dor #d $re 5# de5#% +5!( '4$( '5!4!5o#'

Co#f5$!' of 5#!ere'! re #e5!(er 5#(ere#!? 5e% #or re !(e? !o /e re%rded '

refe$!5o# o# !(e 5#!e%r5!? of !(e /ord or of !(e d5re$!or O#$e d5re$!or d5'$o'e'

po!e#!5 $o#f5$! of 5#!ere'! 5''4e, 5! 5' !(e /ord<' 5#!erpre!!5o# of !(e 5''4e !(!

+5 de!er5#e 5f 5! 5' proper or 5proper !r#'$!5o# Corpor!e oppor!4#5!? 5' #o!(er

re re!ed !o D4!? of Lo?!? I! re45re' !(! d5re$!or, /efore e#%%5#% 5# !r#'$!5o#

!(! (e or '(e *#o+' ? /e of 5#!ere'! !o !(e $orpor!5o#, 5#for !(e /ord of

d5re$!or' 5# '4ff5$5e#! de!5 #d de4!e !5e !o o+ 5! !o $! or de$5#e !o $! !o d5re$!or<' po''5/e 5#"o"ee#! 5# !(! !r#'$!5o#

C D4!? of O/ed5e#$eT(e D4!? of O/ed5e#$e re45re' /ord e/er' !o /e f5!(f4 !o !(e 5#'!5!4!5o#<' 5''5o#

A!(o4%( /ord e/er' ("e !(e 4!(or5!? !o de!er5#e (o+ !(e 5#'!5!4!5o# 5' !o

/e'! ee! 5!' 5''5o#, !(e? re pro(5/5!ed fro /e("5#% 5# ##er 5#$o#'5'!e#!

+5!( !(e /'5$ 5#'!5!4!5o#& o/@e$!5"e' T(e D4!? of O/ed5e#$e %ro+', 5# pr!, o4! of

#o#prof5! or%#5!5o#'< (e"? re5#$e o# !(e p4/5$<' !r4'! +(e# 'o5$5!5#% do#!5o#'

#d %r#!' I# !4r#, !(e p4/5$ (' !(e r5%(! !o /e ''4red !(! '4$( f4#d' +5 /e 4'ed for

!(e p4rpo'e for +(5$( !(e? re %5"e# I# for-prof5! or%#5!5o#', !(e re'po#'5/55!? 5'

!o+rd !(e 5#"e'!or' =/o!( e45!? #d de/!>, e'pe$5? 5f !(e f4#d' re fro p4/&5$'o4r$e' I# !(5' $o#!e9!, /e5#% f5!(f4 !o !(e 5#'!5!4!5o# 5''5o# !r#'!e' 5#!o

9555#% '!*e(o&der "4e =#d 5# 'oe $'e', 5*e 5$rof5##$e, /#$5#%

prof5!/55!? +5!( 'o$5 5p$!>, 5# ##er $o#'5'!e#! +5!( e!(5$ pr$!5$e'

III. L"#( O,(i#ions of !" Bo#$%

A' f5d4$5r?, !(e /ord of d5re$!or' (' 'e"er e% o/5%!5o#' F5r'!, !(e /ord 4'!

e#'4re !(! !(e 5#'!5!4!5o# $op5e' +5!( 5!' r!5$e' of 5#$orpor!5o#, /?+', #d 5#!er#

po5$5e' #d pro$ed4re' F4r!(er, !(e /ord 4'! e#'4re !(! !(e 5#'!5!4!5o# 5#!5#' 5!'

e% '!!4' T(e /ord 4'! &'o e#'4re !(! !(e 5#'!5!4!5o# $op5e' +5!(

%o"er#e#! r4e' #d re%4!5o#', +(5$( +5 "r? +5!( !(e 5#'!5!4!5o#<' $orpor!e

'!r4$!4re For e9pe, ' 5$rof5##$e 5#'!5!4!5o# /e$oe' re%4!ed, 5! +5 /e '4/@e$!

!o #e+ 'e! of re%4!or? re45ree#!' !(! !(e /ord 4'! 4#der'!#d A f5# e&ee#!

of !(e /ord<' e% o/5%!5o#' 5' !(e e"e of per'o# 5/55!? of 5#d5"5d4

d5re$!or' for !(e 5#'!5!4!5o#<' $!5"5!5e' S4$( 5/55!? "r5e' /? $o4#!r?, ?e! /ord

e/er' 4'! /e *ee#? +re of !(e de%ree of re'po#'5/55!? #d 54#5!? pro"5ded

for !(e /? o$ + U#der #? /#*5#% +', !(e 5/55!5e' ? /e $r55#&

I# repre'e#!5#% !(e 5#!ere'!' of !(5rd pr!? #d f4f55#% !(e5r e% o/5%!5o#',

/ord' dee%!e re'po#'5/55!? !o #%ee#! #d (od #%ee#! 5#!er#?

$$o4#!/e !o 'e! of o/@e$!5"e' #d perfor#$e '!#drd' !(! !(e /ord ('

def5#ed Ho+e"er,




$(5e"5#% !(e'e '!#drd' #d o/@e$!5"e' $# /e 5p5red #d effe$!5"e %o"er##$e

d55#5'(ed +(e# /ord e/er' re 4#$er /o4! !(e5r roe For e9pe, d5re$!or

? ''4e !(! $!5"5!5e' re!ed !o oper!5o#' re pr! of (5' or (er re'po#'5/55!5e' #d

? (5#der #%ee#!<' /55!? !o perfor effe$!5"e? or #%ee#!<' $$o4#!/55!?

S55r?, CEOJMD ? depe#d !oo 4$( o# /ord #d re4e'! 5!' 5#p4! o# de$5'5o#'

o4!'5de of !(e /ord<' do5#

IV. R"(#ions!i' B"-""n Bo#$% #n% E9"&*i6"

A!(o4%( !(e re!5o#'(5p /e!+ee# /ord #d !(e e9e$4!5"e d5re$!or or CEOJMD 5'

d?#5$, 5! 4'! /e %ro4#ded 5# $er 4#der'!#d5#% of !(e roe' e$( 'er"e' Effe$!5"e

%o"er##$e '!r5*e' !(e ppropr5!e /#$e 5# !(e re!5o#'(5p /e!+ee# /ord of

d5re$!or' #d #%ee#! 5# !(e5r $o/5#ed effor!' !o o"e !(e 5#'!5!4!5o# for+rd E$(

/r5#%' 4#54e '*5' !o !(5' @o5#! effor! #d "5e+' !(e 5#'!5!4!5o# fro d5ffere#!

e#' To%e!(er !(e? dd "4e pre$5'e? /e$4'e !(e? re $opee#!r? I! 5' '4%%e'!ed!(! !(5' $opee#!r? #!4re e95'!' /e$4'e /ord #d e9e$4!5"e' 4'e d5ffere#!

fre' of refere#$e !o 4#der'!#d !(e 5#'!5!4!5o# #d !o depo? !(e5r re'po#'5/5&5!5e'

U#5*e !(e e9e$4!5"e J#%ee#! roe +(5$( ? /e "e'!ed 5# o#e per'o#, !(e roe of

!(e /ord 5' "e'!ed 5# !e

Effe$!5"e /ord' $rr? o4! !(e5r re'po#'5/55!5e' /? =2> 5#!5#5#% oper!5o# d5'!#$e

fro !(e 5#'!5!4!5o# !o e#/e # er5 per'pe$!5"e, =)> dr+5#% o# !(e 5#'!5!4!5o#

eor? of !(e d5re$!or', #d =.> *5#% /5#d5#% de$5'5o#' ' %ro4p Bord de$5'5o#'

re /'ed o# !(e "o5$e of !(e @or5!? Arr5"5#% ! $o#'e#'4' ? /e !5e-$o#'45#%

#d de$re'e !(e /ord<' oper!5#% e9ped5e#$?, /4! !(e pro$e'' 5' e''e#!5 !o +e-

f4#$!5o#5#% /ord T(e'e !(ree f$!or' epo+er !(e /ord #d dd '5%#5f5$#! "4e !o !(e

#%ee#! of !(e 5#'!5!4!5o#

M#%ee#!, 5# $o#!r'!, 5' 5#!5!e? 5#"o"ed 5# d5? oper!5o#', (' # 4p-!o-d!e #d

5#-dep!( 4#der'!#d5#% of !(e 5ed5!e $(e#%e' #d oppor!4#5!5e' f$5#% !(e

5#'!5!4!5o#, #d !(e fe95/55!? !o re$! 45$*? A# 5#'!5!4!5o#<' e9e$4!5"e +5 $o#'4!

+5!( 'e#5or #%ee#! o# *e? 5''4e' /4! 5' 5#d5"5d4? $$o4#!/e W(! !(e# 5'

!(e op!5 /&#$e /e!+ee# !(e'e !+o 'e!' of $5r$4'!#$e' #d per'pe$!5"e' #d (o+

do !(e? ed !o $re!e effe$!5"e %o"er##$e

Effe$!5"e %o"er##$e re45re' /ord' !o fo$4' o# !(ree @or re' of re'po#'5/55!?7 =2>

#%ee#! $$o4#!/55!?, =)> '!r!e%5$ p##5#% #d po5$?-*5#%, #d =.>

'ef- re%4!5o# T(e'e !(ree re' o+ !(e /ord !o f4f5 5!' f5d4$5r? o/5%!5o#', #d

e$( re45re' /ord e/er' !o perfor 'pe$5f5$ !'*', ' o4!5#ed /e&o+

V. M#;o$ A$"# of R"s'onsi,i(i1 #n% Bo#$% T#s7s

A M#%ee#! A$$o4#!/5&5!?To e#'4re !(! #%ee#! 5' (ed $$o4#!/e for !(e $!5"5!5e' of !(e or%#5!5o#,

/ord 4'! f5r'! fo$4' o# !(e pro$e'' #d e$(#5'' 5! 4'e' !o 5de#!5f? $ope!e#!

e9e$4!5"e Se$o#d, 5! 4'! 'e! $er #d e'4r/e %o' T(5rd, /ord 4'! o#5!or

!(e perfor#$e of !(e e9e$4!5"e F5#?, 5! 4'! /e /e !o 5de#!5f?

#%er5&




+e*#e''e' #d $o#fro#! !(e +(e# !(e'e d"er'e? ffe$! !(e 5#'!5!4!5o# If

#e$e''r?, !(e /ord 4'! /e prepred !o reo"e !(e CEOJMD

B I#'! M#%ee#! Cp$5!?

H5r5#% '!ro#%, $ope!e#! CEOJMD 5' o#e of !(e pr5r? f4#$!5o#' of /ord of

d5re$!or' T(5' 5#d5"5d4, ' !(e oper!5o# eder for !(e 5#'!5!4!5o# #d !(e

repre'e#!!5"e of !(e e#!5re '!ff !o !(e /ord, p?' *e? roe 5# !(e o#%-!er '4$$e'' of

!(e 5#'!5!4!5o# #d 5# !(e re5!5o# of effe$!5"e %o"er##$e A /ord $# o#? /e

' effe$!5"e ' !(e CEOJMD 5! ppo5#!', #d !(erefore 5! 4'! $o#'5der !(5'

$ore re'po#'5/55!?

C Se! Go&'

O#$e # e9e$4!5"e 5' 5# p$e, !(e /ord<' roe 5' !o o#5!or !(e perfor#$e #d pro%re''

of !(e 5#'!5!4!5o# !(ro4%( 5!' o"er'5%(! of !(e CEOJMD We-f4#$!5o#5#% /ord'

'pe#d !(e re45red !5e +or*5#% +5!( #%ee#! !o def5#e %o' #d 'e! !r%e!'for !(e 5#'!5!4!5o# T(e? !(e# o#5!or !(e 5#'!5!4!5o#<' !!5#e#! of !(e'e %o' #d

!r%e!' /? ''e''5#% !(e e9e$4!5"e<' perfor#$e Bord' 5de#!5f? !(e *e? re' 5#

+(5$( # e9e$4!5"e '(o4d perfor effe$!5"e&?

V5'5o# refer' !o #%ee#!<' $p$5!? !o def5#e o#%-!er "5e+ of !(e

5#'!5!4!5o#<' f4!4re, +(5$( 5' $r5!5$ for 5!' '4'!5#/55!? o"er !5e M#%ee#!<'

"5'5o# '(o4d /e $er? def5#ed #d !(e '!ep' !o 5!' $(5e"ee#! +e $o#$e5"ed T(e

"5'5o# 5' r!5$4!ed 5# '!r!e%5$ p#, +(5$( 'o o4!5#e' !(e 5# pro%r re' of

!(e 5#'!5!4!5o# #d !(e re'4!' !(! re e9pe$!ed For e9pe, *e? /e#$(r*' for

#o#prof5! 5$rof5##$e 5#'!5!4!5o# %5#'! +(5$( #%ee#! perfor#$e 5' e'4red

+5 &5*e&? 5#$4de !r%e!' for '$e of oper!5o#, r*e! pe#e!r!5o#, e"e of 'ef-'4ff5$5e#$? of !(e 5#'!5!4!5o#, &e%& '!r4$!4re re45red !o re$( !r%e!', e"e of eff5$5e#$? of

!(e oper!5o#', #d 45!? of !(e ''e!'

D A''e'' M#%ee#!

A /ord ''e''e' CEOJMD<' /55!? !o #%e !(e 5#'!5!4!5o#<' (4# re'o4r$e' T(5're ddre''e' 5''4e' of prod4$!5"5!?, perfor#$e, #d de"eope#! of '!ff

Add5!5o#?, /ord re"5e+' !(e or%#5!5o# '!r4$!4re of !(e 5#'!5!4!5o# !o e#'4re5!' de4$? for !(e effe$!5"e depo?e#! of 5!' oper!5o#'

T(e CEOJMD 5' re'po#'5/e for 5#!5#5#% # 5#'!5!4!5o#<' f5##$5 'o"e#$? I#

!(e for-prof5! $o#!e9!, !(5' 5#$4de' %e#er!5#% re!4r# !o 5#"e'!or' I# !(e #o#prof5!$o#!e9!, /#$ed /4d%e! or '4rp4' 5' e9pe$!ed A!(o4%( o''e' or def5$5!' ? /e

$$ep!/e 5# !(e '(or! !er for +e-def5#ed $5r$4'!#$e', /ord '(o4d #o! o+

repe!ed poor f5##$5 perfor#$e A''e! 45!? #d !(e /55!? !o o/55e f5##$5

re'o4r$e' re 'o *e? 5# o/!5#5#% %ood f5##$5 re'4&!'

T(e CEOJMD 5' re'po#'5/e for e#'4r5#% # effe$!5"e /ord-'!ff re!5o#'(5p T(5'

re!5o#'(5p 5' prod4$! of !(e off5$5, for /ord ee!5#%' #d !(e #4ero4' 5#for

5#!er$(#%e' !(! o$$4r /e!+ee# 5#d5"5d4 /ord d5re$!or', !(e CEOJMD, #d 5#d5"5d4

'!ff e/er' Ao#% !(e f$!or' !(! $o#!r5/4!e !o !(5' re!5o#'(5p re !(e e9!e#!

!o




+(5$( !(e /ord 5' +e 5#fored #d prepred for ee!5#%', !(e '!re#%!( of !(e +or*5#%

re!5o#'(5p' /e!+ee# /ord d5re$!or' #d '!ff, #d !(e de%ree !o +(5$( 5#d5"5d4

d5re$!or' re *#o+&ed%e/&e of !(e 5#'!5!4!5o# 5''5o# I! 5' %e#er? 4#der'!ood

!(! /ord e/er' ("e $$e'' !o # 5#'!5!4!5o#<' '!ff /4! +5 4'e @4d%e#! 5#

!(e5r 5#!er$!5o#' 'o ' #o! !o d5'!r$! !(e /4'5#e'' oper!5o# of !(e 5#'!5!4!5o# or 4#der5#e

!(e CEOJMD Add5!5o#?, /ord' of!e# 5#"5!e 'e#5or '!ff e/er' o!(er !(# !(e

CEOJMD !o !!e#d /ord ee!5#%' T(5' pro"5de' !(e /ord +5!( dd5!5o#& 5#'5%(! 5#!o

re' 4#der d5'$4''5o# #d o+' /ord e/er' !o ("e e9po'4re !o '!ff +5!( f4!4re

po!e#!5 for 'e#5or #%ee#! po'5!5o#'

Ho+ $# !(e /ord of NGO o'! effe$!5"e? e#'4re !(! #%ee#! !!5#' !(e

e'!/5'(ed %o' #d o/@e$!5"e' T(e effe$!5"e o#5!or5#% of e9e$4!5"e perfor#$e

re45re' !(e fo&&o+5#% e&ee#!'7

2 A"5/55!? of 5#for!5o#T(e /ord 4'! ("e !5e? $$e'' !o !(e ppropr5!e

5#for!5o#

) Cr5!? of o/@e$!5"e'S!r!e%5$ %o' #d o/@e$!5"e' %5#'! +(5$( !(e perfor#$e of pr!5$4r per5od

5'

e'4red 4'! /e $er? r!5$4!ed T(5' 5' prere45'5!e !o re$e5"5#% !(er5%(! 5#for!5o#

. C#dor

T(e e9e$4!5"e 4'! repor! !o !(e /ord +5!( $#dor #d !(e e"e of de!5 #d #&?'5'#e$e''r? for effe$!5"e /ord de5/er!5o#' For e9pe, # e9e$4!5"e $##o! +5!((od5#for!5o# fro !(e /ord /o4! '5!4!5o# or $r5'5' !(! ? 'er5o4'? ffe$! !(e5#'!5!4!5o#, e"e# 5f !(! e/er !(5#*' 5! +5 /e re'o"ed 'oo#

0 A#?!5$ r5%or

Bord e/er' 4'! ("e !(e #?!5$ '*5' !o po'e !(e r5%(! 4e'!5o#' #d !o /e 5#$5'5"e 5# !(e5r d5'$4''5o# of 5#'!5!4!5o# perfor#$e

6 I#$e#!5"e'O#e ppro$( !o o!5"!e #%ee#!<' perfor#$e 5# !!5#5#% !(e 4!4?

%reed4po# %o' 5' !o $re!e 5#$e#!5"e e$(#5'' T(e !!er '(o4d 5%# !(e +e-/e5#% #d

5#!ere'! of !(e 5#d5"5d4 #%er +5!( +(! 5' %ood for !(e 5#'!5!4!5o# #d /? e9!e#'5o#,

5# !(e $'e of for-prof5! $orpor!5o#', !(e '(re(oder' T(e #eed for '4$( 5#$e#!5"e p#'

r5'e' /e$4'e 5# o'! or%#5!5o#& '!r4$!4re' 5# !(e pr5"!e 'e$!or, 4!5!e o+#er'(5p

of !(e ''e!' ? re'5de 5# !(e '(re(oder' /4! d?-!o-d? $o#!ro of !(o'e ''e!' re'!' 5#

!(e (#d' of #%ee#! I# !(e #o#prof5! 'e!!5#%, !(e !e#'5o# $o4d 'o e95'! /e!+ee#

5#d5"5d4 #d 5#'!5!4!5o# pr5or5!5e' E9p&e' 5#$4de 5#d5"5d4 @o/ 'e$4r5!? #d

$ofor!/e '!/55!? "er'4' rp5d 5#'!5!4!5o# $(#%e, #d per'o# fr5e#d'(5p' "er'4'

@o/ perfor#$e I# de'5%#5#% # 5#$e#!5"e '$(ee for !(e e9e$4!5"e of # 5#'!5!4!5o#, 5! 5'

5por!#! !o $o#'5der fo$4', $o#!ro, o%5$, #d !r%e!'




8 Fo$4'e? 5#d5$!or' 5# !(e 5#$e#!5"e '$(ee 4'! /e 55!ed !o !(o'e fe+ f$!or' !(!

!r4&?

!!er I# 5$rof5##$e, !(o4%( por!fo5o '5e #d 45!? re o/"5o4' 5#d5$!or'

re!ed !o effe$!5"e #%ee#!, f5##$5 perfor#$e #d !(e #4/er #d

$(r$!er5'!5$' of $5e#!' re e9pe' of dd5!5o# 5#d5$!or' !(! $o4d /e 4!5&5ed

: Co#!ro&

I#$e#!5"e' '(o4d re+rd peope for 5''4e' !(! re +5!(5# !(e5r $o#!ro #d for /e("5or

!(! !(e? $# d5re$!? ffe$! I#$e#!5"e '$(ee' '(o4d /e '5pe No ore !(# f5"e, #d

prefer/? fe+er, "r5/&e' '(o4d /e 'ee$!ed S!ff '(o4d red5? 4#der'!#d !(e

e$(#5$' of !(e p&#

1 Lo%5$

T(e r!5o#e for !(e 'ee$!ed 5#d5$!or' '(o4d /e $er for !(e !o ("e&e%5!5$?

; Tr%e!'T(e !r%e!' 'e! 4'! /e e'4r/e #d $(5e"/e I! 5' #o 4'e !o 'ee$! "r5/e !(!

e"er?o#e %ree' 5' "er? 5por!#!, 5*e $4'!oer 'er"5$e, /4! #o o#e *#o+' (o+!o e'4re re5/?, or !o 'e! !r%e!' !(! re 4#!!5#/&e

23 Co#fro#! We*#e''e'I# ''e''5#% !(e perfor#$e of !(e e9e$4!5"e, !(e /ord 4'! 'o /e +55#% !o $o#fro#!

5#'!5!4!5o# #d #%ee#! +e*#e''e' #d $! !o ddre'' !(e Co4#!e'' e9pe'

("e '(o+# !(! effe$!5"e #%ee#! $ope!e#$? #d $o#d4$! $##o! /e !*e# for%r#!ed I! 5' 5#$4/e#! 4po# !(e /ord !o 5de#!5f? !(o'e re' 5# +(5$( !(e

5#'!5!4!5o# d5'p?' poor perfor#$e /e$4'e of +e* #%ee#! pr$!5$e'

E9pe' 5%(! 5#$4de poor f5##$5 $o#!ro', o+ '!ff ore, or +e* 5#for!5o#

'?'!e' A /ord<' re'po#'5/55!? 5' !o de#d #d '4ppor! #%ee#! 5# '!re#%!(e#5#%

!(e'e re' #d !o o#5!or !(e pro$e'' of 5pro"ee#! T(e '!re#%!( of !r4'!

/e!+ee# !(e /ord #d #%ee#! #d !(e e"e of !(e /ord<' e9po'4re !o

o!(er e/er' of 'e#5or #%ee#! f$55!!e' !(5' pro$e'' I#'!5!4!5o# #d

#%ee#! +e*#e''e' f o# 'pe$!r4 of 'e"er5!? O# o#e e#d re

pro$ed4r !!er' !(! ? re'4! fro #%ee#! 5#e9per5e#$e #d re45re

pr$!5$ 'o4!5o# O# !(e o!(er e#d re $!5o#' !(! ? 5#$4de fr4d I# e5!(er $'e

5#$ope!e#! perfor#$e or fr4d4e#! $!5o#' /ord' 4'! /e +55#% !o $o#fro#! #d,5# !(e +or'! $'e, f5re !(e CEOJMD

Co#fro#!5#% #%ee#!, (o+e"er, $# /e d5ff5$4! #d 4#$ofor!/e !'* for /ord

T(e p5!f&&' of %ro4p !(5#* of!e# re p?ed o4!, +5!( #o '5#%e 5#d5"5d4 +55#%

!o '!ep o4! 5# fro#! of !(e o!(er' #d $(e#%e CEOJMD T(5' ? /e d4e !o 'e#'e

of per'o# o?!? !o !(e CEOJMD or !o !(e $(5r of !(e /ord I#d5"5d4 d5re$!or'

? 'o (e'5!!e !o $! /e$4'e !(e? re 4#'4re !(! !(e? ("e 'ee# !(e f4 p5$!4re

5# 'o do5#%, !(e? ? %5"e !(e /e#ef5! of do4/! !o # 5#$ope!e#! or 5-5#!e#!5o#ed

CEOJMD A /ord<' /55!? #d +55#%#e'' !o *e !(e (rd de$5'5o#' #d $o#fro#!

+e*#e'' 5# !(e e9e$4!5"e, #d !(erefore !(e 5#'!5!4!5o#, 5' f4#$!5o# of !(e fo&&o+5#%7

o De%ree of /ord e/er 5#depe#de#$e fro #%ee#!




o Leder'(5p '*5' of 5#d5"5d4 d5re$!or'




o C5!e !(! o+' for d5''e#'5o#o Me$(#5'' or oppor!4#5!5e' for !(e /ord ' %ro4p or 5#d5"5d4? !o "o5$e

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o/@e$!5"e' of !(e or%#5!5o#

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o#? ' !eporr? 'o4!5o# 5# !(e /'e#$e of #? o!(er &!er#!5"e

E S!r!e%5$ P##5#% #d Po5$?

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*5#%

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5#"o"e' !(e /ord 5# '5%#5f5$#! +?, !(e /ord '(o4d 5#$4de #d e9pe$!

'!r!e%5$ !(5#*5#% !o /e pr! of !(e eder'(5p 45!5e' !(! !(e !op e9e$4!5"e /r5#%'

!o !(e 5#'!5!4!5o# T(e d5'!#$e #d d5"er'5!? of e9per5e#$e' of /ord d5re$!or' e#/e'

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5''4e' !(! ? #o! o!(er+5'e /e ddre''ed #d, !(4', '5%#5f5$#!? $o#!r5/4!e

!o 5de#!5f?5#% #d 'e!!5#% o#%-!er' %o' for !(e 5#'!5!4!5o# E9$ep!5o#', !(e /ord<' roe

5# 'e!!5#% po5$? '(o4d d5ffer fro !(! of #%ee#! #o! /? !op5$ /4! /? e"e'

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fo$4'ed o# 5!' %o"er#5#% #d!e



Code of Corpor!e Go"er##$e for B#%&de'( :3

I# $!45!?, e"er?o#e 5# !(e or%#5!5o# 4#*#o+5#%? 'e!' po5$? or 5p$!'

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&e"e&'

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F Bord Se&f-A''e''e#!

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per'pe$!5"e dd' %re!&? %5"e# 5!' $oe$!5"e e9per5e#$e T(e /ord 4'! !(erefore /e

re'po#'5/e for 5#!5#5#% !(5' $o#!5#45!? /? e#'4r5#% !(! e"e# +5!( #!4r !!r5!5o#,

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e#'4re $o#!5#45!?

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/ord e/er' $# f4#de#!? '(pe effe$!5"e %o"er##$e /? 5de#!5f?5#% #e+

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of !(e od #d #e+

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ANNE/ 2) SAMPLE BOARD MEMBER ?OB

DESCRIPTION

T(e '!!4!or? d4!5e' of Bord Me/er re7

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R To e#'4re !(! !(e or%#5'!5o# p4r'4e' 5!' o/@e$!"e' ' def5#ed 5# 5!'%o"er#5#% do$4e#!

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#o! 5#$4ded 5# 5!' o+# o/@e$!5"e', #o !!er (o+ +or!(+(5e or $(r5!/e

!(o'e $!5"5!5e' re

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e"4!5#% perfor#$e %5#'! %reed !r%e!'

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proper 5#"e'!e#! of !(e f4#d'

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of !(e Bord

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ANNE/ @) SAMPLE CONFLICT OF INTEREST

POLIC>

Po!e#!5 $o#f5$!' of 5#!ere'! #eed !o /e $ref4? $o#'5dered #d $orre$!&?

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/e '45!ed =#d !*5#% 4p refere#$e' fro o!(er $5e#!' or

$4'!oer'>




ANNE/ 4) SAMPLE TERMS OF R EFERENCE FOR A FINANCE AND AUDIT

COMMITTEE

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4!(or5!?

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!o !(e pr!5$4r 5!e' /e5#% $o#'5dered #d d5'$4''ed

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proper? 5#4!ed

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'er"5$e'



Code of Corpor!e Go"er##$e for B#%&de'( :)

d> De'$r5/e !(e o"er'5%(! of !(e e9!er# 4d5! pro$e'', #d (o+ 5!' effe$!5"e#e'' +'

''e''ed

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4d5!or'



Code of Corpor!e Go"er##$e for B#%&de'( :.

T(e C(5r# of !(e Co5!!ee '(o4d !!e#d !(e AGM prepred !o re'po#d !o

#? 4e'!5o#' !(! ? /e r5'ed o# !!er' +5!(5# !(e Co5!!ee<' re of re'po#'5/5&5!?

M"+,"$s!i'

T(e Bord '( ppo5#! e/er' of !(e Co5!!ee T(e Co5!!ee '( /e de 4p of

! e'! [3] e/er' A e/er' of !(e Co5!!ee '( ("e re$e#! #d

ree"#! f5##$5 e9per5e#$e T(e C(5r# of !(e Bord '( #o! /e e/er

of !(e Co5!!ee

O#? e/er' of !(e Co5!!ee ("e !(e r5%(! !o !!e#d Co5!!ee ee!5#%' Ho+e"er,

o!(er 5#d5"5d4' '4$( ' !(e C(5r# of !(e Bord, C(5ef E9e$4!5"e, F5##$e D5re$!or,

o!(er Bord e/er', 5#!er# 4d5! #d repre'e#!!5"e' fro !(e f5##$e f4#$!5o#

? /e 5#"5!ed !o !!e#d or pr! of #? ee!5#% ' #d +(e# ppropr5!e T(e

e9!er#& 4d5!or' +5 /e 5#"5!ed !o !!e#d ee!5#%' of !(e Co5!!ee o# re%4r /'5'

Appo5#!e#!' !o !(e Co5!!ee '( /e for per5od of 4p !o o#e Bord !er, +(5$( ?

/e e9!e#ded $$ord5#% !o !(e or%#5'!5o# re45ree#!' /4! for 954 of f4r!(er

!er T(e Bord '(&& ppo5#! !(e Co5!!ee C(5r# +(o '( #o! /e e/er of

'!ff I# !(e /'e#$e of !(e Co5!!ee C(5r# #dJor # ppo5#!ed dep4!?, !(e

re5#5#% e/er' pre'e#! '( ee$! o#e of !(e'e"e' !o $(5r !(e ee!5#%

<*o$*+

T(e 4or4 #e$e''r? for !(e !r#'$!5o# of /4'5#e'' '( /e 3 e/er' A d4&?

$o#"e#ed ee!5#% of !(e Co5!!ee ! +(5$( 4or4 5' pre'e#! '( /e $ope!e#! !o

e9er$5'e or #? of !(e 4!(or5!5e', po+er' #d d5'$re!5o#' "e'!ed 5# or e9er$5'/e /?

!(e Co5!!ee

F$"*"n&1 of M""ins

T(e Co5!!ee '( ee! at least three times a year at appropriate times in the

reporting and audit cycle #d o!(er+5'e ' re45red)1

Noi&" of M""ins

Mee!5#%' of !(e Co5!!ee '( /e '4o#ed /? !(e Se$re!r? of !(e Co5!!ee ! !(e

re4e'! of #? of 5!' e/er' or ! !(e re4e'! of e9!er# or 5#!er# 4d5!or' 5f

!(e? $o#'5der 5! #e$e''r?

U#e'' o!(er+5'e %reed, #o!5$e of e$( ee!5#% $o#f5r5#% !(e "e#4e, !5e #dd!e !o%e!(er +5!( # %e#d of 5!e' !o /e d5'$4''ed, '( /e for+rded !o e$(

e/er of !(e Co5!!ee, #? o!(er per'o# re45red !o !!e#d #o !er !(# 5 +or*5#%

d?' /efore !(e d!e of !(e ee!5#% S4ppor!5#% pper' '( /e 'e#! !o Co5!!ee

e/er' #d !o o!(er !!e#dee' ' ppropr5!e, ! !(e 'e !5e

)1T(e fre4e#$? #d !55#% of ee!5#%' +5 d5ffer $$ord5#% !o !(e #eed' of !(e or%#5'!5o#Mee!5#%' '(o4d /e

or%#5'ed 'o !(! !!e#d#$e 5' 955'ed =for e9pe /? !5e!/5#% !(e !o $o5#$5de +5!( Bord ee!5#%'>




Min*"s of M""ins

T(e Co5!!ee Se$re!r? '( 5#4!e !(e pro$eed5#%' #d re'o4!5o#' of ee!5#%'

of

!(e Co5!!ee, 5#$4d5#% re$ord5#% !(e #e' of !(o'e pre'e#! #d 5# !!e#d#$e T(e

Se$re!r? '( '$er!5#, ! !(e /e%5##5#% of e$( ee!5#%, !(e e95'!e#$e of #? $o#f5$!'

of 5#!ere'! #d 5#4!e !(e $$ord5#%? M5#4!e' of Co5!!ee ee!5#%' '( /e

$5r$4!ed prop!? !o e/er' of !(e Co5!!ee #d, o#$e %reed, !o e/er' of

!(e Bord

Ann*#( G"n"$#( M""in

T(e C(5r# of !(e Co5!!ee '( !!e#d !(e A##4 Ge#er Mee!5#% prepred

!o re'po#d !o #? 4e'!5o#' o# !(e Co5!!ee<' $!5"5!5e'

T(e Co5!!ee '(o4d $rr? o4! !(e foo+5#% d4!5e' ' e9p5#ed

/e&o+7o F5##$5 Repor!5#%

o I#!er# Co#!ro' #d R5'* M#%ee#! S?'!e'o I#!er# A4d5!

o E9!er# A4d5!

Fin#n&i#( R"'o$in

T(e Co5!!ee '( o#5!or !(e 5#!e%r5!? of !(e f5##$5 '!!ee#!' of !(e

or%#5'!5o#, 5#$4d5#% 5!' ##4 #d 5#!er5 repor!', #d #? o!(er for

##o4#$ee#! re!5#% !o 5!' f5##$5 perfor#$e, re"5e+5#% '5%#5f5$#! f5##$5

repor!5#% 5''4e' #d @4d%ee#!' +(5$( !(e? $o#!5#

T(e Co5!!ee '( 'o re"5e+ '4r? f5##$5 '!!ee#!' '5%#5f5$#!f5##$5 re!4r#' !o re%4!or' #d #? f5##$5 5#for!5o# $o#!5#ed 5# $er!5# o!(erdo$4e#!'T(e Co5!!ee '( re"5e+ #d $(e#%e +(ere#e$e''r?7

2 T(e $o#'5'!e#$? of, #d #? $(#%e' !o, $$o4#!5#% po5$5e' /o!( o# ?er

o# ?er /'5' #d $ro'' !(e or%#5'!5o#J%ro4p

) T(e e!(od' 4'ed !o $$o4#! for '5%#5f5$#! or 4#4'4 !r#'$!5o#' +(ere

d5ffere#! ppro$(e' re po''5/&e. W(e!(er !(e or%#5'!5o# (' foo+ed ppropr5!e $$o4#!5#% '!#drd' #d

de ppropr5!e e'!5!e' #d @4d%ee#!', !*5#% 5#!o $$o4#! !(e "5e+' of !(ee9!er# 4d5!or

0 T(e $r5!? of d5'$o'4re 5# !(e or%#5'!5o#<' f5##$5 repor!' #d !(e $o#!e9!5# +(5$( '!!ee#!' re de #d !er5 5#for!5o# pre'e#!ed +5!(

!(e f5##$5 '!!ee#!', '4$( ' !(e oper!5#% #d f5##$5 re"5e+

6 T(e Co5!!ee '( re"5e+ !(e ##4 f5##$5 '!!ee#!' +(ere #o! re"5e+ed /? !(e Bord ' +(o&e

In"$n#( Con$o(s #n% Ris7 M#n#"+"n S1s"+s

T(e Co5!!ee '(&&7

2 eep 4#der re"5e+ !(e effe$!5"e#e'' of !(e or%#5'!5o#<' 5#!er# $o#!ro' #d

r5'* #%ee#! '?'!e' #d




) Re"5e+ #d ppro"e !(e '!!ee#!' !o /e 5#$4ded 5# !(e A##4 Repor!

$o#$er#5#% 5#!er# $o#!ro' #d r5'* #%ee#!);

In"$n#( A*%i

T(e Co5!!ee '(&&72 Mo#5!or #d re"5e+ !(e effe$!5"e#e'' of !(e or%#5'!5o#<' 5#!er# 4d5! f4#$!5o#

5# !(e $o#!e9! of !(e or%#5'!5o#<' o"er r5'* #%ee#! '?'!e.3

) Appro"e !(e ppo5#!e#! #d reo" of !(e (ed of !(e 5#!er# 4d5! f4#$!5o#. Co#'5der #d ppro"e !(e re5! of !(e 5#!er# 4d5! f4#$!5o# #d e#'4re 5! ('

de4!e re'o4r$e' #d ppropr5!e $$e'' !o 5#for!5o# !o e#/e 5! !o perfor

5!' f4#$!5o# effe$!5"e? #d 5# $$ord#$e +5!( !(e ree"#! profe''5o# '!#drd'

T(e Co5!!ee '(&& &'o e#'4re !(e f4#$!5o# (' de4!e '!#d5#% #d 5'

free fro #%ee#! or o!(er re'!r5$!5o#'0 Re"5e+ #d ''e'' !(e ##4 5#!er# 4d5! p&#

6 Re"5e+ prop!? repor!' o# !(e or%#5'!5o# fro !(e 5#!er# 4d5!or'8 Re"5e+ #d o#5!or #%ee#!<' re'po#'5"e#e'' !o !(e f5#d5#%' #d

re$oe#d!5o#' of !(e 5#!er# 4d5!or #d ee! !(e (ed of 5#!er# 4d5!!

e'! o#$e ?er, +5!(o4! #%ee#! /e5#% pre'e#!, !o d5'$4'' !(e5r re5!

#d #? 5''4e' r5'5#% fro !(e 5#!er# 4d5!' $rr5ed o4! I# dd5!5o#, !(e (ed

of 5#!er# 4d5! '( /e %5"e# !(e r5%(! of d5re$! $$e'' !o !(e C(5r of !(e

Bord #d !o !(e Co5!!ee

E9"$n#( A*%i

T(e Co5!!ee '(&&7

2 Co#'5der #d *e re$oe#d!5o#' !o !(e Bord, !o /e p4! !o !(e Ge#erBod? for ppro" ! !(e AGM, 5# re!5o# !o !(e ppo5#!e#!, re-ppo5#!e#!

#d reo" of !(e or%#5'!5o#<' e9!er# 4d5!or T(e Co5!!ee '(&&

o"er'ee !(e 'ee$!5o# pro$e'' for #e+ 4d5!or') O"er'ee !(e re!5o#'(5p +5!( !(e e9!er# 4d5!or 5#$4d5#% =/4! #o! &55!ed

!o>7 Appro" of !(e5r re4#er!5o#, +(e!(er fee' for 4d5! or #o#

4d5! 'er"5$e' #d !(! !(e e"e of fee' 5' ppropr5!e !o e#/e #de4!e

4d5! !o /e $o#d4$!ed / Appro" of !(e5r !er' of e#%%ee#!, 5#$4d5#% #? e#%%ee#!

e!!er 5''4ed ! !(e '!r! of e$( 4d5! #d !(e '$ope of !(e 4d5!$ S!5'f?5#% 5!'ef !(! !(ere re #o re!5o#'(5p' ='4$( '

f5&?, ep&o?e#!, 5#"e'!e#!, f5##$5 or /4'5#e''> /e!+ee# !(e4d5!or

#d !(e or%#5'!5o# =o!(er !(# 5# !(e ord5#r? $o4r'e of /4'5#e''>d A%ree5#% +5!( !(e Bord po5$? o# !(e epo?e#! of forer

epo?ee' of !(e or%#5'!5o#<' 4d5!or, !(e# o#5!or5#% !(e5pee#!!5o# of !(5' po&5$?

);

U#e'' !(5' 5' do#e /? !(e Bord ' +(o&e.3If !(e or%#5'!5o# doe' #o! ("e # 5#!er# 4d5! f4#$!5o#, !(e Co5!!ee '(o4d $o#'5der ##4? +(e!(er !(ere




'(o4d /e o#e #d *e re$oe#d!5o# !o !(e Bord $$ord5# %? T(e /'e#$e of '4$( f4#$!5o# '(o4d /e

e9p5#ed 5# !(e A##4 Repor!



Code of Corpor!e Go"er##$e for B#%&de'( ::

e Mo#5!or5#% !(e 4d5!or<' $op5#$e +5!( ree"#! e!(5$ #d

profe''5o# %45d#$e o# !(e ro!!5o# of 4d5! pr!#er', !(e e"e of fee'

p5d /? !(e or%#5'!5o# $opred !o !(e o"er fee 5#$oe of

!(e f5r, off5$e #d pr!#er #d o!(er re!ed re45ree#!'

f A''e''5#% ##4? !(e5r 45f5$!5o#', e9per!5'e #d re'o4r$e' #d !(eeffe$!5"e#e'' of !(e 4d5! pro$e'' +(5$( '( 5#$4de repor! fro !(e

e9!er# 4d5!or o# !(e5r o+# 5#!er# 45!? pro$ed4re'

% Mee! re%4r? +5!( !(e e9!er# 4d5!or, 5#$4d5#% o#$e !

!(e p##5#% '!%e /efore !(e 4d5! #d o#$e f!er !(e 4d5! ! !(e

repor!5#% '!%e T(e Co5!!ee '( ee! !(e e9!er# 4d5!or !

e'! o#$e ?er, +5!(o4! #%ee#! /e5#% pre'e#!, !o d5'$4'' !(e5r

re5! #d #? 5''4e' r5'5#% fro !(e 4d5!

( Re"5e+ #d ppro"e !(e ##4 4d5! p# #d e#'4re !(! 5! 5'$o#'5'!e#! +5!( !(e '$ope of !(e 4d5! e#%%ee#!

5 Re"5e+ !(e f5#d5#%' of !(e 4d5! +5!( !(e e9!er# 4d5!or T(5' '(&&5#$4de /4! #o! /e 55!ed !o, !(e fo&&o+5#%

5 d5'$4''5o# of #? @or 5''4e' +(5$( ro'e d4r5#% !(e 4d5!,

55 #? $$o4#!5#% #d 4d5! @4d%ee#!',

#d 555 e"e' of error' 5de#!5f5ed d4r5#% !(e4d5!

. T(e Co5!!ee '( 'o re"5e+ !(e effe$!5"e#e'' of !(e

4d5!0 Re"5e+ #? repre'e#!!5o# e!!er='> re4e'!ed /? !(e e9!er# 4d5!or /efore

!(e? re '5%#ed /? #%ee#!

6 Re"5e+ !(e #%ee#! e!!er #d #%ee#!<' re'po#'e !o !(e 4d5!or<'

f5#d5#%' #d re$oe#d!5o#' #d8 De"eop #d 5pee#! po5$? o# !(e '4pp? of #o#-4d5! 'er"5$e' /? !(e

e9!er# 4d5!or, !*5#% 5#!o $$o4#! #? ree"#! e!(5$ %45d#$e o# !(e

!!er

R"'o$in R"s'onsi,i(ii"s

T(e Co5!!ee C(5r# '( repor! for? !o !(e Bord o# 5!' pro$eed5#%' f!er e$(ee!5#% o# && !!er' +5!(5# 5!' d4!5e' #d re'po#'5/5&5!5e'

T(e Co5!!ee '( *e +(!e"er re$oe#d!5o#' !o !(e Bord 5! dee' ppropr5!eo# #? re +5!(5# 5!' re5! +(ere $!5o# or 5pro"ee#! 5' #eeded

T(e Co5!!ee '( $op5e repor! !o '(re(oder' o# 5!' $!5"5!5e' !o /e 5#$4ded 5#!(e or%#5'!5o#<' A##4 Repor!

O!"$ M#"$s

T(e Co5!!ee '(&&7

2 H"e $$e'' !o '4ff5$5e#! re'o4r$e' 5# order !o $rr? o4! 5!' d4!5e', 5#$4d5#%$$e'' !o !(e or%#5'!5o# 'e$re!r5! for ''5'!#$e ' re45red

) Be pro"5ded +5!( ppropr5!e #d !5e? !r5#5#%, /o!( 5# !(e for of # 5#d4$!5o#

pro%re for #e+ e/er' #d o# # o#%o5#% /'5' for e/er'

. Be re'po#'5/e for $o-ord5#!5o# of !(e 5#!er# #d e9!er# 4d5!or'




0 O"er'ee #? 5#"e'!5%!5o# of $!5"5!5e' +(5$( re +5!(5# 5!' !er' of refere#$e #d

$! ' $o4r! of !(e '! re'or! #d

6 A! e'! o#$e ?er, re"5e+ 5!' o+# perfor#$e, $o#'!5!4!5o# #d !er' of

refere#$e !o e#'4re 5! 5' oper!5#% ! 954 effe$!5"e#e'' #d re$oe#d #?

$(#%e' 5! $o#'5der' #e$e''r? !o !(e Bord for ppro"&

A*!o$i1

T(e Co5!!ee 5' 4!(or5'ed72 To 'ee* #? 5#for!5o# 5! re45re' fro #? epo?ee of !(e or%#5'!5o# 5#

order !o perfor 5!' d4!5e') To o/!5#, ! !(e or%#5'!5o#<' e9pe#'e, o4!'5de e% or o!(er profe''5o# d"5$e

o# #? !!er +5!(5# 5!' !er' of refere#$e #d

. To $ #? epo?ee !o /e 4e'!5o#ed ! ee!5#% of !(e Co5!!ee '#d +(e# re45red



Code of Corpor!e Go"er##$e for B#%&de'( :;

R ESOURCES

OECD Pr5#$5pe' of Corpor!e Go"er##$e

Coo#+e!( Pr5#$5p&e'

Pr5#$5pe' #d Pr$!5$e' of M5$rof5##$e Go"er##$e, /? R Ro$*, M O!ero, S S&!#,

ACCION I#!er#!5o#, A4%4'! 2;;1

M5$rof5##$e Ne+'e!!er, Corpor!e Go"er##$e of M5$rof5##$e 5# B#%de'(, /?Cred5! De"eope#! For4

CCH Corpor!e Go"er##$e, A D5re$!orQ' H#d/oo*, 2;;;

T(e : H/5!' of H5%(? Effe$!5"e peope, B? S!ep(e# Co"e?, - T(e B4'5#e'' 5/rr?, 2;1;

B4'5#e'' E!(5$ Re'er$( Co#fere#$e Pper Corpor!e Go"er##$e #d A4d5!

5#depe#de#$e7 A Tr5o%? B? Ire#e Tepo#e #d A#!o5#e!!e R5$(rd'o# S$(oo

of B4'5#e'', S+5#/4r#e U#5"er'5!? of Te$(#o&o%?,

C4rre#! Go"er##$e Pr$!5$e' of MFI', B? A#5! Cp5o#, 2;;1

Hr"rd B4'5#e'' S$(oo Repor!, )33)

R5'5#% E9pe$!!5o#' of Corpor!e Go"er##$e, /? Pr5$e+!er(o4'eCooper', A4%< )33)

Po+er re!5o#' /e!+ee# /ord' #d 'e#5or #%er' 5# !(e %o"er##$e of p4/5$

#d #o#-prof5! or%#5'!5o#', /? C(r5' Cor#fo!(, Apr5 )332CGAP We/'5!e =+++$%por % >

I#$re'5#% !(e Effe$!5"e#e'' of C(r5!? Tr4'!ee' #d M#%ee#! Co5!!ee', Lo#do#,C(r5!? Co5''5o#, 2;;)

Cop#? Se$re!r5 Pr$!5$e, Corpor!e Go"er##$e, ICSA Te9!

So$5e!5e' Re%5'!r!5o# A$! No I of 2183, B#%&de'(

NGO Go"er##$e, A# o"er"5e+ o# F5##$5 S?'!e, /? S(5"r*4r

=I#d5> G45de5#e' for See$!5o# of Pr!#er Or%#5!5o# =PO> of PSF

http://www.cgap.org/







APPENDICES




CUMULATIVE VOTING) A BRIEF DESCRIPTION

C44!5"e "o!5#% 5' "o!5#% pro$ed4re !(! o+' '(re(oder' !o $$44!e !(e5r

"o!e' for o#e or ore $#d5d!e', !(ere/? o+5#% 5#or5!? '(re(oder' !o

or%#5'e !(e5r "o!e' !o '4ppor! d5re$!or $#d5d!e A# e9pe 5' !(e /e'!

+? !o 5&&4'!r!e $44!5"e "o!5#%

E9#+'(") A &o+'#n1 !#s s"#s on !" Bo#$% of Di$"&o$s %*" fo$ "("&ion.

Standard Voting: One Share = One Vote per Director Seat

I# !(e '!#drd "o!5#% '5!4!5o#, '(re(oder (od5#% o#e '(re $o4d $'! f5"e

"o!e', o#e for e$( Bord 'e! 4p for ee$!5o# !(e '(re(oder $# "o!e ?e' or #o

for e$( $#d5d!e

Vo!e'= 2 @ 4

D5re$!or

Se!' 4p for

Ee$!5o#= 2 @ 4

Cumulative Voting: Numer o! Votes = Numer o! Director Seats up !or "lection

I# $44!5"e "o!5#% '5!4!5o#, '(re(oder (od5#% o#e '(re $o4d $'! f5"e

"o!e' !o! T(e "o!e' $o4d /e $'! for o#e d5re$!or $#d5d!e, o#e for e$( d5re$!or

'e!, or !(e5r f5"e "o!e' $o4d /e d5'!r5/4!ed !o #? $o/5#!5o# of !(e d5re$!or

$#d5d!e' =T(e !+o

d5%r' /eo+ '(o+ !+o po''5/e !er#!5"e "o!5#% po'5!5o#'> T(e f5"e d5re$!or

$#d5d!e' +5!( !(e o'! "o!e' +5 /e ee$!ed !o !(e ope# /ord 'e!' Effe$!5"e

$44!5"e "o!5#% re45re' !(! !(e #4/er of $#d5d!e' e9$eed' !(e #4/er of 'e!' 4p

for ee$!5o# !(e $op#? 4'! p4! for+rd 4!5pe $#d5d!e' for e$( 'e!

or '(re(oder' '(o4d #o5#!e d5re$!or $#d5d!e'

C44!5"e "o!5#% o+' 5#or5!? '(re(oder' !o @o5# $oe$!5"e? !o ee$! d5re$!orof !(e5r $(o5$e T(e #4/er of "o!e' re45red !o ee$! d5re$!or depe#d' o# !(e #4/er

of 'e!' 4p for ee$!5o# 5# !(5' e9pe, +5!( f5"e 'e!' 4p for ee$!5o#, )3K p4' o#e

"o!e +5 %4r#!ee ee$!5o#, /4! d5re$!or $o4&d /e ee$!ed +5!( e'' 5f !(ere re

#? $#d5d!e' #d "o!e' re d5'!r5/4!ed +5de&?




Cumulative Voting #lternative $: #ll !ive votes are cast !or one director candidate%Vo!e'

'e!' 4p fore&e$!5o#

6 "o!e' 6 "o!e' for C#d5d!e B

D5re$!or

C#d5d!e' A B C D E F G

Cumulative Voting #lternative &: 'ive votes split et(een t(o candidates%Vo!e'

'e!' 4p for

e&e$!5o#

6 "o!e' ) "o!e' for C#d5d!e C . "o!e' for C#d5d!e G

D5re$!or C#d5d!e' A B C D E F G

T(e ADB-SEC Corpor!e Go"er##$e re$oe#d!5o#' '4ppor!ed #d!or?

$44!5"e "o!5#% for p4/5$ 5'!ed $op#5e' T(e OECD A'5# Ro4#d!/e W(5!e

Pper o# Corpor!e Go"er##$e 'o re$oe#ded #d!or? $44!5"e "o!5#% !o

pro!e$! !(e 5#!ere'!' of 5#or5!? '(re(o&der'



SAMPLE SHAREHOLDERS4 HANDBOOK

T(5' pro"5de' %e#er o4!5#e of S(re(oder'< H#d/oo* A' per !(e re45ree#!' of

!(e Code of Corpor!e Go"er##$e o# !(e Roe of S(re(oder', e$( $op#? '(o4d

pro"5de S(re(o&der'< H#d/oo* !o !(e5r '(re(oder' !o /e!!er e#/e '(re(oder' !o

p? !(e5r roe 5# effe$!5"e $orpor!e %o"er##$e E$( $op#? +5 ("e 4#54e #d

'pe$5f5$ pro$ed4re' #d re45ree#!' ' per !(e5r Ar!5$e' of A''o$5!5o# T(e

S(re(oder'< H#d/oo* '(o4d 5#$4de 'pe$5f5$ refere#$e' !o !(e $op#?<' Ar!5$e' of

A''o$5!5o# !(! pro"5de for !(e r5%(!' e9p&5#ed

I. C(#ss"s of S!#$"s) T(e H#d/oo* '(o4d e9p5# !(e "r5o4' !?pe' #d $''e' of'(re', 5#$4d5#% !(e r5%(!' ''o$5!ed +5!( e$(

II. G"n"$#( +""ins

A W(! 5' %e#er ee!5#% AGM EGMB W(e# '(o4d # AGM /e (e&dC W(! '(o4d /e d5'$4''ed

D W(! 5' ? roe ! # AGME W(! 5#for!5o# $# I e9pe$! fro $op#? pr5or !o !(e AGM

F W(! 5' !(e d5ffere#$e /e!+ee# # AGM #dEGM G W(o $# $ %e#er ee!5#%

III. Mino$i1 S!#$"!o(%"$s Ri!s

A W(! 5' 5#or5!? '(re(o&der

B W(! r5%(!' do I ("e ' 5#or5!? '(re(o&der

C Ho+ $# I e9er$5'e ? 5#or5!? '(re(oder r5%(!'

IV. Ri! o Di6i%"n%s

A W(! 5' d5"5de#d

2 D5"5de#d' re p?e#! !o '(re(oder' fro !(e e9$e'' prof5!' of !(e

$op#? D5"5de#d' ? o#? /e p5d o4! of !(e #e! prof5!' of

!(e $op#? or pre"5o4'&? 4#d5'!r5/4!ed prof5!' If !(ere re

#o '4$( prof5!', d5"5de#d' ? #o! /e p5dB Do '(re(oder' re$e5"e d5"5de#d' e"er? ?er

2 S(re(oder' ? #o! re$e5"e d5"5de#d e"er? ?er T(ere $# /e#? re'o#' for #o! p?5#% d5"5de#d' For 5#'!#$e, +(e# !(e

$op#? *e' o'', 5! $##o! p? d5"5de#d') M#%ee#! #d d5re$!or' ? 'o re$oe#d #o! p?5#% d5"5de#d

+(e# !(e $op#? (' 5#"e'!e#! pro@e$!' !(! +5 er# (5%( r!e of

re!4r# for !(e '(re(o&der'C Ho+ 5' d5"5de#d de$5ded

2 D5"5de#d' re re$oe#ded /? !(e /ord #d ppro"ed /? !(e

'(re(oder' S(re(oder' ? #o! ppro"e d5"5de#d 5# e9$e'' of!(! re$oe#ded /? !(e /ord

D W(e# !(e '(re(oder' ppro"e d5"5de#d, '(re(oder' ("e !(e r5%(! !o /e p5d pro-r! por!5o# of !(! d5"5de#d



E O#$e !(e d5"5de#d 5' de$red, '(re(oder' '(o4d re$e5"e !(e5r d5"5de#d

p?e#!' +5!(5# !+o o#!('

F W(! 5' Bo#4' S(re2 Bo#4' S(re 5' #o!(er !er for '!o$* d5"5de#d I#'!ed of $'( p5d

for d5"5de#d', #e+ '(re or pr!5 '(re 5' 5''4ed !o e$( '(re(oder' d5"5de#d p?e#!

) W(e# '!o$* d5"5de#d 5' propo'ed, $op#5e' '(o4d e9p5# !o

'(re(oder' !(e po!e#!5 d54!5o# of !(e5r '(re(od5#% #d !(e

5p5$!5o#' of '4$( d54!5o# C'(fo+ 5p5$!5o#' of

/o#4' '(re 5''4e '(o4d 'o /e e9p5#ed /o#4' '(re' +5 #o!

prod4$e $'( 5#fo+ /4! +5&& 5#$re'e $'( o4!fo+ 5f !(e d5"5de#d r!e 5'

4#$(#%edG Ho+ $# ? '(re' /e !r#'ferred !o #e+ o+#er

V. Di$"&o$s. T(e S(re(oder'< H#d/oo* '(o4d 5#$&4de7A T(e '(re(oder'< r5%(! !o #o5#!e #d ee$! d5re$!or', o#% +5!( !(e pro$ed4re'

/? +(5$( d5re$!or =or MD> $# /e reo"edB A '!!ee#! !o !(e effe$! !(! d5re$!or' repre'e#! '(re(o&der'

C Roe', re'!r5$!5o#', re'po#'5/55!5e', #d 5/55!5e' of e9e$4!5"e #d #o#-e9e$4!5"e

d5re$!or' '(o4&d /e d5'$o'ed !o '(re(oder' T(e d5'!5#$!5o# #d re&!5o#'(5p

/e!+ee# #%ee#! #d !(e /ord of $op#? '(o4d /e e9p&5#edD D5re$!or'< re4#er!5o#, 5#$4d5#% e9e$4!5"e d5re$!or'E T(e r!5o of e9e$4!5"e !o #o#-e9e$4!5"e d5re$!or'

F S(re(oder' '(o4d *#o+ !(e pro$ed4re' for d5re$!or' !o e9$4'e !(e'e"e' fro

"o!5#% o# 5!e' #d $o#!r$!' 5# +(5$( !(e? ("e # 5#!ere'!

G S(re(oder' '(o4d /e 5#fored of re%5'!er of d5re$!or'< 5#!ere'!' 5# $o#!r$!' orrr#%ee#!' of !(e $op#? #d !(e5r r5%(! !o 5#'pe$! '4$( re%5'!er

VI. Voin Ri!s

A R5%(! !o re4e'! po or /o! ! %e#er ee!5#%

B R5%(! !o pro9?2 A#? '(re(oder ? ee$! pro9? !o !!e#d !(e AGM #d "o!e !(e5r

'(re' T(e '(re(oder 4'! 5#for !(e $op#? 5# +r5!5#% of!(e5r

$(o'e# pro9? ! e'! 01 (o4r' pr5or !o !(e AGM T(e per'o# ee$!ed' pro9? #eed #o! /e '(re(oder of !(e $op#?

VII. R"'o$in #n% Dis&(os*$"s

A S(re(oder' ("e !(e r5%(! !o re$e5"e 5#for!5o# /o4! $op#? re'o&4!5o#',

de$5'5o#', #d oper!5o#' '4$( !(! 5! $# /e 4#der'!ood /? &?per'o#B D5'!r5/4!5o# of A##4 Repor! A##4 repor!' #d 5#4!e' of !(e AGM '(o4&d

/e de e'5? "5/e !o '(re(o&der'

2 If '(re(oder' re #o! pro"5ded +5!( $op? of !(e A##4 Repor! #d5#4!e' of !(e AGM, !(e? '(o4d /e 5#fored +(ere #d (o+!(e?

$# o/!5# $op?) S(re(oder' $# 'o 4!55'e !(e 5/rr5e' of !(e SEC, DSE, #d CSE !o

o/!5# 5#for!5o# /o4! p4/5$ 5'!ed



$op#5e'



C A##4 repor!' '(o4d 5#$&4de72 A4d5!ed f5##$5 '!!ee#!', +(5$( 5#$4de B#$e S(ee! #d Prof5!

#d Lo'' A$$o4#!' T(e H#d/oo* '(o4d e9p5# +(! '(o4d /e 5#

!(e f5##$5& '!!ee#!' #d /'5$ e9p#!5o# of (o+ !o 5#!erpre! !(e

f5##$5 '!!ee#!') A4d5!or'< Repor!

. D5re$!or'< Repor!

0 E9p#!5o# of !(e $op#?<' perfor#$e #d pro'pe$!' for !(e

f4!4re, 5#$4de !(e /4'5#e'' '!r!e%? #d # #?'5' of !(e

'!re#%!(', +e*#e'', oppor!4#5!5e' #d !(re!'6 Cer 5de#!5f5$!5o# of !(e $op#?<' r5'* f$!or' #d $o#'e4e#$e'8 Cp5! '!r4$!4re' #d rr#%ee#!' !(! e#/e $er!5# '(re(oder' !o

o/!5# de%ree of $o#!ro d5'propor!5o#!e !o !(e5r e45!? o+#er'(5p'(o4d /e d5'$&o'ed

: To! '(re' 4!(or5'ed #d o!!ed, ' +e ' #4/er of '(re(oder'5# "r5o4' !5er' of '(re(od5#% =e% #4/er of '(re(oder' +5!(233,333 or ore '(re'>

D Cop#5e' '(o4d pro"5de 4#4d5!ed 4r!er? re'4!' !o '(re(oder', ' +e

!5e? 5#for!5o# /o4! e"e#!' or re'4!' !(! +5 !er5? ffe$! !(e $op#?

E S(re(oder' ("e !(e r5%(! !o re"5e+ p4/5$ do$4e#!', 5#$4d5#% Ar!5$e' of A''o$5!5o# of $op#?, ! !(e $op#?<' re%5'!eredoff5$e'

F Cop#5e' '(o4d d5'$o'e +(e!(er #d (o+ !(e? re 4p(od5#%7 'o$5 $orpor!e

re'po#'5/55!5e' =CSR> e#"5ro#e#! re'po#'5/55!5e' +or*er'< r5%(!' %e#der

r5%(!' o!(er '!#drd'J$ode' ppropr5!e !o !(e 5#d4'!r? =e% $o#'4er r5%(!',

p''5#% 45!? $o#!roJ'fe!? '!#drd'>

VIII. R"*i$"% S!#$"!o(%"$ A''$o6#(

A S(re(oder' 4'! ppro"e ord5#r? re'o4!5o#' of !(e $op#? p4! /efore !(eAGM, +(5$( 5#$4de

re'o&4!5o#'7

2 !o 5#$re'e, de$re'e, $o#'o5d!e or d5"5de or #? of 5!' '(re') !o $o#"er! p5d-4p '(re' 5#!o '!o$* #d re$o#"er! '!o$* 5#!o p5d-4p

'(re', ' +e ' '4/d5"5de '(re' #d

. !o $#$e '(re' +(5$( ("e #o! /ee# !*e# or %reed !o /e !*e# /?#? per'o#

B S(re(oder ppro" =!(ree-fo4r!('> 5' re45red for @or $op#? de$5'5o#',5#$4d5#%7

2 To $(#%e !(e Meor#d4 or Ar!5$e' of A''o$5!5o# of !(e

$op#?) To red4$e '(re $p5!&

. To re'er"e $p5!&0 To reo"e d5re$!or fro off5$e6 To reo"e # 4d5!or /efore !(e e9p5r? of (5' !er

8 O# +5#d5#% 4p !(ro4%( !(e Co4r!: For "o4#!r? +5#d5#% 4p /e$4'e of e9$e'' &5/5&5!?

1 To '#$!5o# rr#%ee#!' /e!+ee# $op#? #d $red5!or



I/. Ri!s Iss*"s

A R5%(!' I''4e refer' !o # 5#$re'e 5# '(re $p5! /? $op#? T(e pro$ed4re

for R5%(!' I''4e 5' def5#ed 5# Se$!5o# 266 of !(e Cop#5e' A$!, 2;;0, F4r!(er I''4e of Cp5!&

B S(re(oder' '(o4d /e de +re of !(e $r5!er5 for !(e 5''4e of R5%(!' S(re',

#d !(e 55!!5o#' of !(e 5''4e of R5%(!' S(re'C W(e# R5%(!' I''4e 5' p4! for+rd !o !(e '(re(oder', !(ree-fo4r!(' @or5!?

'(o4d /e re45red for ppro"&2 D5re$!or' '(o4d e9p5# !(e re'o# for !(e R5%(!' I''4e #d !(e

'4%%e'!ed 4'e='> of !(e f4#d' !(! +5 /e r5'ed

) S(re(oder' '(o4d re$e5"e $er e9p#!5o# of !(e po!e#!5

po'5!5"e #d #e%!5"e o4!$oe' of !(e R5%(!' I''4e, 'pe$5f5$?

!(e d54!5o# effe$! '(o4&d /e $er? e9p&5#edD Af!er R5%(!' I''4e, d5re$!or' '(o4d repor! /$* !o '(re(oder' /o4! !(e 4'e' of

!(e f4#d' #d !(e re!4r#' fro '5d pro@e$!' D5re$!or' '(o4d pro"5de # 4d5!ed

4r!er? $$o4#! of !(e Pre54 S(re A$$o4#!, +(5$( $o#!5#' !(e pro$eed'fro !(e R5%(!' I''4e

/. R"*(#o$1 Bo%i"s

A S(re(oder' '(o4d /e de +re ' !o !(e roe of !(e re%4!or? /od5e'

B S(re(oder' '(o4d *#o+ #d 4#der'!#d !(e pro$ed4re' for 4p(od5#% !(e5r

r5%(!', re%5'!er5#% $op5#!'J$!5o#' %5#'! p4/5$ $op#?, 5!' /ord, or #?

o!(er e#!5!?, 5f !(o'e r5%(!' re /4'ed

C Re%4!or? /od5e' '(o4d d5''e5#!e !(e R5%(!' #d Re'po#'5/55!5e' of S(re(oder'< 5# !(e p4/5$ 'p(ere, or e#'4re !(! $op#5e' 5#$4de

S(re(oder'< H#d/oo* 5# !(e pro'pe$!4' for # IPO, 'o !(! po!e#!5&

'(re(o&der' ? !*e # 5#fored de$5'5o# !o '4/'$r5/e



SAMPLE CONTENTS OF AN ANNUAL R EPORT

T(5' ppe#d59 pro"5de' 'pe of !(e $o#!e#!' of # A##4 Repor!, dr+5#% o# !(e

d5'$o'4re' #d re45ree#!' ' e9p5#ed 5# !(e Code of Corpor!e Go"er##$e T(5'

'pe $o#!e#!' $# 'er"e ' $(e$*5'! of d5'$o'4re' I# prepr5#% # A##4 Repor!,

!(e pr5#$5p&e' of !r#'pre#$? #d $$o4#!/55!? '(o4d /e *ep! 5# 5#d !(e 5por!#$e

of e9p5#5#% re'4!' #d p#' 5# ##er !(! 5' 4#der'!#d/e !o !(e "er%e

'(re(oder '(o4d /e pr5r? $o#$er#

I. A*%i"% Fin#n&i#( S#"+"ns in&(*%in)

A B#$e S(ee!

B Prof5! #d Lo'' A$$o4#!' =I#$oe S!!ee#!>

C C'(fo+ S!!ee#!

II. A*%io$s R"'o$ in&(*%in f""s '#i% o !" #*%i fi$+ fo$ #*%i #n% non8#*%i

-o$7.

III. Ann*#( Di$"&o$s R"'o$ s!o*(% in&(*%" !" fo((o-in i"+s '$"s"n"% in

# n#$$#i6" fo$+#)

A D5re$!or'< 5#for!5o#2 D5re$!or'< re4#er!5o#, 5#$4d5#% e9e$4!5"e d5re$!or'

) T(e r!5o of e9e$4!5"e !o #o#-e9e$4!5"e d5re$!or'. T(e pro$ed4re' for d5re$!or' !o e9$4'e !(e'e"e' fro "o!5#% o#

5!e' #d $o#!r$!' 5# +(5$( !(e? ("e # 5#!ere'!

0 S(re(oder' '(o4d /e 5#fored of re%5'!er of d5re$!or'< 5#!ere'!' 5#$o#!r$!' or rr#%ee#!' of !(e $op#? #d !(e5r r5%(! !o5#'pe$!

'4$( re%5'!er6 D5re$!or'< '(re(od5#% #d #? $(#%e' !(ere5#

8 Repor! o# !(e re!5"e' of d5re$!or' ' epo?ee' or e/er' of!(e /ord #d !(e5r '(re(o&d5#%'

: De!5' of d5re$!or'< re4#er!5o#

1 Per'o#' +(o ("e !!e#ded Bord ee!5#%' 5# !(e '! ?er, 5#$4ded!!e#d#$e of d5re$!or' #d #? '4/'!5!4!e d5re$!or'

; De!5' of o#' !o d5re$!or'

23 I#for!5o# o# re!ed pr!? !r#'$!5o#', '4$( ' !(e p4r$('e or 'eof '(re' 5# ''o$5!ed $op#5e' +(ere !(e $op#? 5!'ef ('

'(re(od5#%, or +(ere !(e o!(er $op#? (' '(re(od5#% 5# !(e

$op#?, or +(ere e/er' of !(e /ord @o5#!? or 'e"er? ("e

'5%#5f5$#! '(re(od5#% e45"e#! !o 6K or ore of !(e !o!

'(re, #d 'o o# oper!5o# 5#*' #d !rd5#% !r#'$!5o#' +5!(

re!ed pr!5e'

B O+#er'(5p I#for!5o#2 Cp5! '!r4$!4re' #d rr#%ee#!' !(! e#/e $er!5# '(re(oder' !o

o/!5# de%ree of $o#!ro d5'propor!5o#!e !o !(e5r e45!? o+#er'(5p'(o4d /e d5'$&o'ed



) To! '(re' 4!(or5'ed #d o!!ed, ' +e ' #4/er of '(re(oder'

5# "r5o4' !5er' of '(re(od5#% =e% #4/er of '(re(oder' +5!(

233,333 or ore '(re'> or p!!er#' of e45!? (od5#% /?

=5> '(re(od5#% $!e%or? #d =55> per$e#!%e of '(re(od5#% 5#

!(e $op#?C Cop#? I#for!5o#

2 Cer 5de#!5f5$!5o# of !(e $op#?<' r5'* f$!or' #d $o#'e4e#$e'

) E9p#!5o# of !(e $op#?<' perfor#$e #d pro'pe$!' for !(e

f4!4re, 5#$4de !(e /4'5#e'' '!r!e%? #d # #?'5' of !(e

'!re#%!(', +e*#e'', oppor!4#5!5e' #d !(re!'. S!!ee#! of !(e $op#?<' po5$? #d pr$!5$e o# Corpor!e So$5&

Re'po#'5/55!?, Corpor!e E#"5ro#e#! Re'po#'5/55!?, #d

$op5#$e +5!( B#%de'( e#"5ro#e#! '!#drd'0 4#!5!!5"e d5'$o'4re of 'e' #d r*e! '(re, o$ #d fore5%# =5f

pp&5$/&e>6 M!er5 r5'* f$!or' #d 4#$er!5#!5e'8 E9p#!5o# of re'4!', 5#$4d5#% *e? re'4!' for d5"5'5o#' or /4'5#e''

'e%e#!'D Cop&5#$e

2 Cop5#$e Cer!5f5$!e, pro"5ded /? !(e Cop#? Se$re!r? or o!(er$op5#$e off5$er, !!e'!5#% !(!7

!(e $op#? (' d4? f5ed '!!4!or? re!4r#' d4r5#% !(e ?er

/ !(e $op#? (' 5#!5#ed '!!4!or? /oo*' #d re%5'!er',#d 5# '4$( order, ' re45red /? !(e Cop#5e' A$!

$ !(e $op#? (' d4? p5d pp5$/e d4!5e', e"5e' #d !9e'

!o !(e e9$(e4er d4r5#% !(e ?er d !(e $op#? (' #o! p5d or offered #? %r!5f5$!5o# !o #?

4r!er e !(e $op#? (' pr$!5$ed $orpor!e #or', r4e' #d

re%4!5o#' ' re45red /? o!(er re%4!or? 4!(or5!5e' d4r5#%!(e ?er 4#der repor!

) T(e C(5r# of !(e Bord, CEO #d CFO '(o4d '4pp? !+o

dd5!5o# '!!ee#!'7 T(! !(e? re '!5'f5ed !(e $op#? 5' %o5#% $o#$er# #d +5 /e

for ! e'! ?er fro !(e d!e of !(e B#$e S(ee! / O# !(e effe$!5"e#e'' of !(e Cop#?<' 5#!er# $o#!ro '?'!e #d

5#!er# 4d5! depr!e#! T(5' '(o4d 5#$4de #? 5rre%4&r5!5e'5#"o"5#% #%ee#! or epo?ee' +(o ("e '5%#5f5$#! roe'

5# !(e '?'!e of 5#!er# $o#!ro T(5' '!!ee#! '(o4d 'o /e

'5%#ed /? !(e C(5r# of !(e A4d5! Co5!!eeE F5##$5 #d A$$o4#!5#%

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the code of corporate governance for bangladesh

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