(a) Ensuring a formal and transparent Board nomination process;

(b) Appointing senior managers, and ensuring that they have the necessary integrity, technical and managerial competence, and experience;

(c) Overseeing succession planning, and minimizing undue reliance on key individuals;

(d) Reviewing key senior management and Board remuneration packages and ensuring such packages are consistent with the corporate values and strategy of the licensee and encourage prudent risk taking;

(e) Monitoring and evaluating management's performance in implementing agreed strategy and business plans, and ensuring appropriate resources are available; and

(f) Approving budgets and reviewing performance against those budgets.