RMG00000298 - Annex A - Matters Reserved to the Post Office Board

Evidence on official site

RMG00000298
RMG00000298
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ANNEX A
MATTERS RESERVED TO THE POST OFFICE BOARD

STATUTORY REQUIREMENTS

e Approval of half year and full year accounts

Approval of monthly financial forecasts to the DTI

¢ Approval of any significant change in accounting policies or practices on the
recommendation of the Audit Committee

© Appointment or removal of The Secretary

¢ Recommendations (to DTI) for appointment or removal of auditors

COMBINED CODE REQUIREMENTS

¢ Approval of major capital projects (with costs in excess of £20m)

¢ Approval of material contracts of the company in the ordinary course of business (the
acquisition and disposal of assets in excess of £20m)

¢ 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 in excess of £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

¢ Approval of risk management strategy including internal control arrangements

MANAGEMENT

¢ Approval of the Group’s commercial strategy and annual operating budget

* Approval of plans for senior management development and succession

¢ Approval of changes to the Group’s management and control structure, including major
restructurings

¢ Approval of main postal price changes

¢ Approval of pay policy for staff and agents

¢ Establishment of Board sub-committees, their terms of reference and membership
(currently the Audit, Investment and Remuneration Committees)

* Appointment to boards of ‘direct’ Post Office subsidiaries

© Approval of the health and safety policy

© Approval of the environmental policy

¢ Approval of the equal opportunities policy

MISCELLANEOUS

* Approval of amendments to trust deeds of Post Office pension schemes
© Appointment and remuneration of the chairman and trustees of main Post Office pension
schemes

* Appointment of specified individuals to authenticate the Post Office seal

* Adoption of a new Post Office seal

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