The Board of Elite Diagnostics Limited (“the Company”) hereby establishes the corporate governance and compensation committee of the Board (“the Committee”), with all the powers and duties set forth herein and subsequent resolutions of the Board.
TERMS OF REFERENCE FOR THE CORPORATE GOVERNANCE AND COMPENSATION COMMITTEE
The Board of Elite Diagnostics Limited (“the Company”) hereby establishes the corporate governance and compensation committee of the Board (“the Committee”), with all the powers and duties set forth herein and subsequent resolutions of the Board.
The Corporate Governance and Compensation committee shall consist of at least three members of the Board. Members of the Committee shall be appointed by the Board. All members of the Committee shall be non-executive directors chosen for their competence and experience and the majority shall be independent directors as so defined in the PSOJ Corporate Governance Code 2016. The Chairperson of the Committee shall be appointed by the Board of directors of the Company. Members of the Committee shall be appointed by the Board for a year at a time but can be reappointed for an unlimited number of times.
In order to fulfil its purpose, the Committee shall have the following authorities and responsibilities:
The Committee shall:
The Committee shall:
This Terms of Reference will come into force upon its adoption by the Board of Directors, except where expressly mentioned otherwise. It can be amended at any time by a decision of the Board of Directors.
ADOPTED BY THE BOARD OF DIRECTORS ON THE DAY OF , 2018
To assist the board of directors in fulfilling its oversight responsibilities for the financial reporting process, the system of internal control, the audit process, and the company’s process for monitoring compliance with laws and regulations and the code of conduct.
The audit committee will consist of at least three and no more than six members of the board of directors. The board or its nominating committee will appoint committee members and the committee chair. Each committee member will be both independent and financially literate. At least one member shall be a Certified Accountant.
The committee will meet at least two times a year, with authority to convene additional meetings, as circumstances require. All committee members are expected to attend each meeting, in person or via tele- or video-conference. The committee will invite members of management, auditors or others to attend meetings and provide pertinent information, as necessary.
The committee will carry out the following responsibilities:
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Elite Audited Year Ending June 30, 2020
Elite Unaudited 4th Quarter and Year Ending June 30, 2020
Elite Unaudited 3rd Quarter Ending March 31, 2020
Elite Unaudited 2nd Qtr ending December 31, 2019
Elite Annual Report June 30, 2019
Elite Unaudited 1st Qtr ending Sept 30, 2019
Elite Audited Year Ending June 30, 2019
Elite Unaudited 4th Quarter and Year Ending June 30, 2019
Elite Unaudited 3rd Quarter ending March 31, 2019
Elite Diagnostic 1st Quarter Interim Report September 2020
Elite Annual Report October 30, 2020