RMG00000287 - Matters Reserved to the Post Office Limited Board

Evidence on official site

RMG00000287
RMG00000287

MATTERS RESERVED TO THE POST OFFICE LIMITED BOARD

STATUTORY REQUIREMENTS

Approval of half year and full year accounts

Approval of financial forecasts to the UK Department of Business, Innovation and Skills
Approval of any significant change in accounting policies or practices on the
recommendation of the Audit and Risk Committee

Appointment or removal of the Company Secretary

Appointment or removal of auditors on the recommendation of the Audit and Risk
Committee

DELEGATED AUTHORITIES

The Post Office Limited board has the following delegated authorities:

Approval of the Post Office Limited annual price review up to £10m

Approval of sales tenders up to £10m

Approval of product launches up to £10m

Approval of major capital projects (of between £3m - £10m)

Approval of material contracts of the company in the ordinary course of business (the
acquisition and disposal of assets of up to £10m)

Approval of contracts of the company not in the ordinary course of business (including
all strategic acquisitions or joint ventures where the transaction total is up to £10m)
Approval of major investments, including the acquisition or disposal of interests of more
than 5% in the voting shares of any company or the making of any takeover bid up to
£10m

Pay Agreements with pay mandate up to £10m

MANAGEMENT

Subject to the agreement of the Royal Mail Holdings Board where appropriate, approval of:

The Company’s risk management strategy including internal controls
the Company’s commercial strategy

the Company’s strategic plan and annual operating plan

plans for senior management development and succession

changes to the management and control structure

overall pay policy for staff and agents

health and safety policy

environmental policy

equal opportunities policy

MISCELLANEOUS

Appointment of specified individuals to authenticate the Post Office Limited seal
Adoption of a new company seal