Section 38: Board sub-committees
consolidated text (as at 2016, amended since). juris shows the text as it was consolidated; it does not confirm that this is the law in force today.
38. Board sub-committees
(1) The board of directors shall set up such sub-committees as it may
deem appropriate in order to ensure that the business of the insurer is being
conducted according to sound corporate governance principles.
(2) A sub-committee referred to under subsection (1) may include, but
shall not be restricted to—
(a) a corporate governance committee;
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(b) the audit committee referred to in section 46; or
(c) a risks management committee.
(3) The Commission may issue guidelines on corporate governance for
insurers and other licensees.
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Questions this section answers
- Must an insurer's board set up sub-committees like an audit committee?