Governance Corporate Governance Report

The Board

Setting the overall strategy, approving the Strategic Business Plan and continually monitoring performance

Chair

Senior Independent Board Member / Ministerial Appointee

Independent Non-Executive Board Members

Executive Board Members

The Company is committed to maintaining a high standard of Corporate Governance and follows its own Corporate Governance Handbook, which draws on the best practice principles of the UK Corporate Governance Code 2018, issued by the Financial Reporting Council (the Code).

The Company entered into a Memorandum of Understanding (MoU) with its Shareholder, a revised version of which was approved by the Shareholder signed in May 2022. The MoU emphasises transparency and accountability and specifies those strategic and other issues for which there is an obligation to inform, to consult, or to seek approval of the Shareholder’s representative.

The revised MoU states that the Company and its Board shall adhere to the ‘Principles of Good Governance’ in the Code.

The shareholder function is exercised by the Minister for Treasury and Resources, whose duty is to act on behalf of the Government of Jersey.

The Board is of the opinion that the Company has complied with the provisions of the Company’s Corporate Governance Handbook and therefore adhered to the Principles of Good Governance of the Code throughout the year under review.