{"id":34833,"date":"2024-10-16T11:51:01","date_gmt":"2024-10-16T06:21:01","guid":{"rendered":"https:\/\/cf.lk\/policy-on-corporate-governance-nominations-and-re-election-of-key-responsible-persons\/"},"modified":"2024-10-16T12:24:36","modified_gmt":"2024-10-16T06:54:36","slug":"policy-on-corporate-governance-nominations-and-re-election-of-key-responsible-persons","status":"publish","type":"page","link":"https:\/\/cf.lk\/ta\/policy-on-corporate-governance-nominations-and-re-election-of-key-responsible-persons\/","title":{"rendered":"Policy On Corporate Governance, Nominations And Re-election Of Key Responsible Persons"},"content":{"rendered":"

[vc_row][vc_column][vc_custom_heading text=”CENTRAL FINANCE COMPANY PLC” font_container=”tag:h2|text_align:left|color:%23805100″ use_theme_fonts=”yes” css=””][vc_custom_heading text=”POLICY ON CORPORATE GOVERNANCE, NOMINATIONS AND RE-ELECTION OF KEY RESPONSIBLE PERSONS” font_container=”tag:h2|text_align:left|color:%23805100″ use_theme_fonts=”yes” css=””][vc_custom_heading text=”1. PURPOSE” font_container=”tag:h4|text_align:left|color:%23805100″ use_theme_fonts=”yes” css=””][vc_column_text css=””]1.1. This document shall be referred to as the Policy on Corporate Governance, Nominations and re-election of Key Responsible Persons at Central Finance Company PLC.
\n1.2. The purpose of this document is to set out the policies relating to corporate governance, nominations and re-elections of Key Responsible Persons as required under the Listing Rules of the Colombo Stock Exchange.[\/vc_column_text][vc_custom_heading text=”2. DEFINITIONS” font_container=”tag:h4|text_align:left|color:%23805100″ use_theme_fonts=”yes” css=””][vc_column_text css=””]\u201cArticles\u201d\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u2013\u00a0 \u00a0 \u00a0 the Articles of Association of Central Finance Company PLC
\n\u201cBoard\u201d\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u2013\u00a0 \u00a0 \u00a0 the Board of Directors of Central Finance Company PLC
\n\u201cCBSL\u201d\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u2013\u00a0 \u00a0 \u00a0Central Bank of Sri Lanka
\n\u201cCompany\u201d\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0\u2013\u00a0 \u00a0 \u00a0Central Finance Company PLC
\n\u201cCSE\u201d\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u2013\u00a0 \u00a0 \u00a0the Colombo Stock Exchange
\n\u201cDirection No. 05\u201d\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u2013\u00a0 \u00a0 \u00a0Finance Business Act Direction No. 05 of 2021 on corporate governance issued by the CBSL
\n\u201cDirection No. 06\u201d\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u2013\u00a0 \u00a0 \u00a0Finance Business Act Direction No. 06 of 2021 on the assessment of fitness and propriety of key responsible persons issued by the CBSL
\n\u201cListing Rules\u201d\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u2013\u00a0 \u00a0 \u00a0the Listing Rules of the CSE
\n\u201cKey Responsible Persons\u201d\u00a0 \u00a0\u2013\u00a0 \u00a0 \u00a0as defined in Direction No. 06[\/vc_column_text][vc_custom_heading text=”3. CORPORATE GOVERNANCE” font_container=”tag:h4|text_align:left|color:%23805100″ use_theme_fonts=”yes” css=””][vc_column_text css=””]3.1. The Company shall adhere to the rules on corporate governance set out in Direction No. 05, the Section 9 of the Listing Rules and any other regulations that may be issued from time to time.
\n3.2. Furthermore, the Company voluntarily adheres to the principles set out in the Code of Best Practice on Corporate Governance issued by the Institute of Chartered Accountants of Sri Lanka.[\/vc_column_text][vc_custom_heading text=”4. NOMINATIONS AND RE-ELECTIONS” font_container=”tag:h4|text_align:left|color:%23805100″ use_theme_fonts=”yes” css=””][vc_column_text css=””]4.1. The Company shall adhere to the rules on the assessment of fitness and propriety set out in Direction No. 06, the Listing Rules and any other regulations that may be issued from time to time.
\n4.2. The re-election of directors is governed by the provisions in the Articles of Association of the Company and Direction No. 5.
\n4.3. All appointments of Key Responsible Persons will be reviewed by the Nominations and Governance Committee and approved by the Board on their recommendation.
\n4.4. The matters considered and processes followed by the Nominations and Governance Committee will be more fully set out under their Terms of Reference.[\/vc_column_text][vc_custom_heading text=”5. REVIEW” font_container=”tag:h4|text_align:left|color:%23805100″ use_theme_fonts=”yes” css=””][vc_column_text css=””]5.1. This policy will be subject to review periodically as and when required by the Nominations and Governance Committee.[\/vc_column_text][\/vc_column][\/vc_row]<\/p>\n<\/div>","protected":false},"excerpt":{"rendered":"

[vc_row][vc_column][vc_custom_heading text=”CENTRAL FINANCE COMPANY PLC” font_container=”tag:h2|text_align:left|color:%23805100″ use_theme_fonts=”yes” css=””][vc_custom_heading text=”POLICY ON CORPORATE GOVERNANCE, NOMINATIONS AND RE-ELECTION OF KEY RESPONSIBLE PERSONS” font_container=”tag:h2|text_align:left|color:%23805100″ use_theme_fonts=”yes” css=””][vc_custom_heading text=”1. PURPOSE” font_container=”tag:h4|text_align:left|color:%23805100″ use_theme_fonts=”yes” css=””][vc_column_text css=””]1.1. This document shall be referred to as the Policy on Corporate Governance, Nominations and re-election of Key Responsible Persons at Central Finance Company PLC. 1.2. The purpose […]<\/p>\n

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