The board must establish a remuneration committee of at least three directors which must:
(a) Review the company's
remuneration policies for the board of directors and senior management (holding controlled functions), which must be approved by the shareholders and be consistent with the corporate values and strategy of the company;
(b) Make recommendations regarding
remuneration policies and amounts for specific 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.
Amended: January 2012