Cap. 10:31
PuBuc EN"I1TIES CoRPORA:I'E GovERNANCE
No, 4/2018
(a)
to make infom1ed decisions regarding their participation in the company
or its business activities;
(b)
to evaluate the company's position and its business activities;
(c)
to check and challenge the company's compliance with the Jaw and best
practice codes on cmporate disclosures;
(d)
to be infonned and then monitor and evaluate the execution of decisions
and resolutions made by the Board or at other levels of the company;
(e)
to be informed about the extent to which corporate leadership is
accountable.
265. The main disclosure must be made to all the company's stakeholders and,
where preferential disclosure is made, conective action should be taken to redress the
wrong done within a reasonable time, giving reasons why the wrong was committed
in the first place.
266. The disclosure should be holistic and guided by the triple bottom line approach
of profit, people and planet.
267. Companies should understand and manage the risks, benefits and constraints
of IC1 in relation to disclosure of information.
268. Disclosure should be in the fonn of written reports which are original,
balanced and give precedence to substance over fmm.
269. Disclosure should be made at !east half yearly and more frequently when
material developments affecting the company occur.
270. Every company should have a disclosure policy which outlines, among other
things, the implementation, monitoring and review of the main disclosure principles
set out in this Code.
271. All executive and non-executive directors should have access to Board papers
and materials and should be able to respond to any queries raised as promptly and fully
as possible.
272. Full minutes of meetings of the Board and of shareholders must be kept by
the company secretary and be open for inspection at any time during office hours on
reasonable notice to the company secretary.
273. If a company is under the control of another company, consolidated financial
statements and combined financial statements should additionally be disclosed.
274. Where the Board has made decisions on matters of strategic and operational
importance, full, timely and accurate disclosure should be made of them including
details of the attending directors and voting results, if any.
275. Every company should give its shareholders and other stakeholders ample
oppoitunity to inspect corporate books, records, minutes of Board meetings and stock
registers and provide them with annual reports and financial statements free of charge
and without restriction but subject only to the company's confidentiality and commercial
sensitivity rules.
276. Where the interests oft he company's stakeholders and the company's business
conflict, such development should be disclosed subject to materiality thresholds as may
be prescribed by the Board from time to time.
277. Every company must ensure that in making disclosures a broad range of
communication channels are used bearing in mind the need to ensure that critical
financial information reaches all shareholders at the same time.
278. Where appropriate, the results of all company decisions should be publicly
disclosed.
143
Select target paragraph3
Add to table of contents