CORPORATE GOVERNANCE Following appointment, the Directors are provided with opportunities for continuing education in areas such as director’s duties and responsibilities, changes to regulations, risk management and accounting standards, and industry-related matters, so as to be updated on matters that affect or may enhance their performance as Directors or Board Committee members. Directors can also request for further information on any aspect of CLAS’ business from Management. Directors may also contribute by recommending to the Boards specific training and development programmes which he or she believes would benefit Directors or the Boards as a whole. The Directors are regularly kept informed by the Company Secretary of the availability of appropriate courses, conferences and seminars including those conducted by the Singapore Institute of Directors, and the Directors are encouraged to attend such training at the Managers’ expense. Bespoke arrangements as required and catered to address the needs of particular members of the Boards may also be organised from time to time. These would also facilitate Board-Management interaction and feedback. During the year, the training programmes attended by the Directors included the Sustainability Training for Directors of REIT manager organised by REITAS, as well as various seminars organised by business partners in relation to board matters, audit and risk committee matters including Business Interruption Risk, Cybersecurity, Environmental Health and Safety and Global Sanctions Compliance Policy. Board Committees The Boards have established various Board Committees to assist them in the discharge of their functions. These Board Committees are the Audit and Risk Committee (ARC), the Executive Committee (EC) and the Nominating and Remuneration Committee (NRC). Each Board Committee is formed with clear written terms of reference (setting out their composition, authorities and duties, including reporting back to the Boards) and operates under delegated authority from the Boards with the Boards retaining overall oversight. The chairpersons of these Board Committees report on the decisions and significant matters discussed at the respective Board Committees meetings to the Boards on a periodic basis. The minutes of the Board Committee meetings which record the deliberations and decisions taken during these meetings are also circulated to all members of the Boards for their information. The composition of the various Board Committees is set out on page 134 of this Annual Report and the inside back cover of this Annual Report. The duties and responsibilities of the Board Committees are set out in this Report. The Boards may form other Board Committees from time to time. The composition of each Board Committee is also reviewed by the Boards, through the NRC, and as and when there are changes to membership of the Boards. Considerations include leveraging on the respective Directors’ leadership and governance backgrounds and expertise to optimise the overall effectiveness of the Board Committees, ensuring continuity of experience in the respective Board Committees and an equitable and balanced distribution of duties among members of the Boards whilst providing members of the Boards the opportunity to focus on specific areas and develop expertise over time to benefit CLAS. 98 CAPITALAND ASCOTT TRUST
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