Secretaries Answers to Questions
FULL VIDEO
STUDLEY PARK ENTERPRISE LIMITED
Madam Presiding Officer, I understand English and the question is very simple, very clear. The question says, “Can the Secretary confirm whether there is a General Manager employed...” - a General Manager position. That is the question - a General Manager. An Executive Chairman is not (they can cohort the functions of a General Manager, but is not) the General Manager. The question is clear, whether there is a General Manager employed at the company at present. So I am going to give him a second chance.
How do we now separate or what is the process for the checks and balances that would require or would allow for proper corporate governance? What are the checks and balances that would allow for the proper corporate governance, given that you have the Executive Chairman also functioning as the General Manager?
Madam Presiding Officer, this question was asked and answered previously. We went through a whole twenty (20) minutes of explaining the new Board structure to the Member and he is still asking about corporate governance.
Just to make it clear, the Board is divided into Executive Board and Independent Board and the Independent Directors are to provide that corporate governance of the Executive side. This was explained in detail to the House previously. This question should not have been be allowed.
Madam Presiding Officer, we recognize that every time we ask questions which are clear, they are being diverted and the question is simple. All we want to know, because we did not previously know that, because on the AUK structure, there is a position for a General Manager and then there is the Board of Directors.
Now that we have incorporated the functions of General Manager (which is administrative) with the chairmanship of the Board (which is Executive), I am simply asking, what are the processes in place to ensure proper checks and balances and for proper corporate governance? That question has not been answered before, because we did not previously know that the functions were the same.
I did not really hear a question there, but just to be clear, the structure that was presented - which I am sure that the Member has - the lead Independent Director is responsible for corporate governance on the Board and therefore, because the Independent Directors are superior in number to the Executive side, they provide that same check and balance that members seems to be conerned abotut.