CFSL - Annual report 2018

2.5. Professional Development The Board reviews the professional development needs of directors during the Board evaluation process and directors are encouraged to develop their skills and expertise continuously. They also receive regular updates on the latest trends and legislative acts affecting the business from management and/or other industry experts. 2.6. Board access to information and advice All directors have access to the Company Secretary to discuss issues or to obtain information on specific areas or items to be considered at Board meetings or any other area they consider appropriate. Furthermore, directors have access to the Company’s records and the right to request independent professional advice at the Company’s expense. 2.7. Directors’ duties, remuneration and performance The directors are aware of their legal duties and may seek independent professional or legal advice, at the expense of the Company, in respect of any aspect of their duties and responsibilities. 2.8. Interests of directors and conflicts of interest All directors, including the Chairman, declare their direct and indirect interests in the shares of the Company as well as their interests in any transaction undertaken by the Company which is recorded in an interest register maintained by the Company Secretary. They also follow the Model Code for Securities Transactions as detailed in Appendix 6 of the Stock Exchange of Mauritius Listing Rules whenever they deal in the shares of the Company. For the year under review, the following director dealt in the shares of the Company: Name of directors Number of shares acquired Colin Taylor 183,300 The Code of Ethics of the Group also set out instances which could lead to a conflict of interest and the procedure for dealing with such potential conflicts. 2.9. Information, information technology (IT) and information security policy With the coming into force of the Data Protection Act 2017 in January 2018, the Group is reinforcing the safety and security measures in place to protect the data it collects, stores and processes. The Group has also adopted the various IT related policies implemented at the level of Cim Finance Ltd (as disclosed on the website https://www.cim.mu/governance-cim-finance-ltd.html ) to ensure that IT controls and security as well as data protection are properly managed. The Risk Management Committee of the Group and the Audit Committee and Risk Management Committee of Cim Finance Ltd receive regular updates on the IT related risk and the IT related internal audit assessments are carried out by the internal audit team. 2.10. Board performance review The Board had resolved that the peer review of the Board directors and a review of the performance of the Board and its committees would be carried out every two years and the next evaluation is due in financial year 2018/19. 2.11. Directors’ remuneration Executive directors are not remunerated for serving on the Board of the Company or its committees. Their remuneration packages as employees of the Company, including performance bonuses, are in accordance with market rates. 29 CIM FINANCIAL SERVICES LTD ANNUAL REPORT 2018