Board Committees
The British Waterways Board has a schedule of matters reserved to it for decision. It also has defined matters that are specifically delegated to Board committees.
The Committee Members are all Board Members.
British Waterways' five Board committees are listed below.
Audit committee
Meeting at least three times a year, the Audit Committee review the internal audit plan, progress against that plan and summary findings of the internal and external auditors. In addition to reviewing the financial results and accounting policies, the Committee monitors the effectiveness of risk management and internal control systems for the Board.
Terms of reference - Audit Committee (15KB PDF)
Nominations committee
The Nominations Committee provides support and advice to the Board chairman when he is consulted by Ministers on the appointment of persons to the Board and reviews the board composition. It also considers succession planning.
Terms of reference - Nomination Committee (19KB PDF)
Remuneration committee
The main task of the Remuneration Committee is to consider the performance of the executive directors and determination of their remuneration levels annually. The chairman of the Board attends by invitation, but is not a member of the Committee.
Terms of reference - Remuneration Committee (21KB PDF)
Fair trading committee
The Fair Trading Committee has as its main task an informed scrutiny and oversight of compliance by British Waterways and its subsidiaries of their fair trading commitments and obligations.
Fair Trading Committee Terms Of Reference (9KB PDF)
Property committee
The Property Committee has a strategic oversight of the commercial property business of BW, in particular monitoring the performance of the commercial property portfolio against external benchmarks. first met in December 2006, replacing the more informal property sub-group of the board.
Property Committee Terms of Reference (47KB PDF)
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