The work of the Group Board is delegated to and carried out by functional committees:
The Audit Committee
Oversees the Group’s statutory obligations, including review of systems for effective control and risk management, both the internal and external audit functions, and the approval of the annual accounts.
The Treasury Committee
Has delegated authority from the Group and Operating Company boards to act on their behalf in arranging and negotiating the terms of private finance required to meet business plan requirements. Along with representatives drawn from both the Group Board and Operating Companies, the Committee appoints two “Expert Members” for their relevant specialist knowledge and expertise.
The Remuneration and Nominations Committee
Chaired by the Vice Chairman of the Group Board, this Committee meets as business dictates, usually three times a year. Its role is to advise the Group Board on remuneration issues. This Committee is also responsible for determining policies for the recruitment, selection and appraisal of Board Members, and for Group standards of probity and ethics.