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The Directors believe that the size of the Board does not currently justify the establishment of a Remuneration Committee of the Board of Directors as recommended by the Council's recommendation 8.1. All reviews of remuneration packages and policies applicable to Executive Directors and Non-Executive Directors which might otherwise be conducted on an annual basis by a Remuneration Committee are dealt with by the full Board of Directors. The responsibility for remuneration matters relating to Senior Executives has been delegated by the Board to the CEO. The Board will continue to review the necessity to establish a Remuneration Committee. |
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