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39
Interim Report 2016
The Trustee-Manager Board and the Company Board hold meetings on a combined
basis, and they meet at least four times a year. Additional board meetings will be
held when warranted. Directors also participate in the consideration and approval of
matters by way of written resolutions, which are circulated to Directors together with
supporting explanatory write-up and coupled with briefings from the Chief Executive
Officer or the Company Secretary as required.
The Company Secretary of the Trustee-Manager and the Company supports the
Boards by ensuring good information flow within the Boards and that board policy
and procedures are followed. The Company Secretary is responsible for ensuring
that the Boards are briefed on all legislative, regulatory and corporate governance
developments and that the Boards have regard to them when making decisions. The
Company Secretary is also directly responsible for the Trustee-Manager’s and the Trust
Group’s compliance with all obligations of the Listing Rules, Codes on Takeovers and
Mergers and Share Buy-backs, Companies Ordinance, SFO and other related laws,
rules and regulations.
Model Code for Securities Transactions by Directors
The Boards have adopted the Model Code as their code of conduct regarding
directors’ securities transactions. All Directors have confirmed following specific
enquiry that they have complied with the required standards set out in the Model
Code throughout the six months ended 30 June 2016.
Senior managers, other nominated managers and staff who, because of their
respective positions in the Company, are likely to be in possession of inside
information regarding the Trust Group and its securities are also required to comply
with the Model Code.