HC-5.2.1
Past version: Effective from 01 Oct 2010 to 31 Dec 2013
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The Board must establish a remuneration committee of at least three directors which must:
(a) Review the conventional bank licensee's remuneration policies for the approved persons , which must be approved by the shareholders and be consistent with the corporate values and strategy of the bank;
(b) Make recommendations regarding remuneration policies and amounts for approved persons to the whole board, taking account of total remuneration including salaries, fees, expenses and employee benefits; and
(c) Recommend Board member remuneration based on their attendance and performance.
October 2010