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  • HC-8 HC-8 Corporate Governance Disclosure

    • HC-8.1 HC-8.1 Principle

      • HC-8.1.1

        The licensee must disclose its corporate governance.

        January 2013

    • HC-8.2 HC-8.2 Disclosure under the Company Law and CBB Requirements

      • HC-8.2.1

        In each licensee:

        (a) The board must adopt written corporate governance guidelines covering the matters stated in this Module and Module PD and other corporate governance matters deemed appropriate by the board. Such guidelines must include or refer to the principles and rules of Module HC;
        (b) The licensee must publish the guidelines on its website, if it has a website;
        (c) At each annual shareholders' meeting the board must report on the licensee's compliance with its guidelines and Module HC, and explain the extent if any to which it has varied them or believes that any variance or noncompliance was justified; and
        (d) At each annual shareholders' meeting the board must also report on further items listed in Module PD. Such information should be maintained on the licensee's website or held at the licensee's premises on behalf of the shareholders.
        Amended: January 2014
        January 2013

      • HC-8.2.2

        [This Paragraph was deleted in January 2014]

        Deleted: January 2014

      • Board's Responsibility for Disclosure

        • HC-8.2.3

          The Board must oversee the process of disclosure and communications with internal and external stakeholders. The Board must ensure that disclosures made by the licensee are fair, transparent, comprehensive and timely and reflect the character of the licensee and the nature, complexity and risks inherent in the licensee's business activities. Disclosure policies must be reviewed for compliance with the CBB's disclosure requirements (see Chapter PD-1).

          January 2013