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  • HC-4.2 HC-4.2 Board Nominations to Shareholders

    • HC-4.2.1

      Each proposal by the Board to the shareholders for election or reelection of a director must be accompanied by a recommendation from the Board, and the following specific information:

      (a) The term to be served, which may not exceed three years (but there need not be a limit on reelection for further terms);
      (b) Biographical details and professional qualifications;
      (c) In the case of an independent director, a statement that the Board has determined that the criteria of independent director have been met;
      (d) Any other directorships held;
      (e) Particulars of other positions which involve significant time commitments, and
      (f) Details of relationships between:
      (i) The candidate and the licensee, and
      (ii) The candidate and other directors of the licensee.
      October 2019

    • HC-4.2.2

      The chairman of the Board should confirm to shareholders when proposing re-election of a director that, following a formal performance evaluation, the person's performance continues to be effective and continues to demonstrate commitment to the role. Any term beyond six years (e.g. two three-year terms) for a director should be subject to particularly rigorous review, and should take into account the need for progressive refreshing of the Board.

      October 2019