74 C I M F I N A N C I A L S E R V I C E S L T D CORPORATE GOVERNANCE REPORT (continued) C O R P O R A T E G O V E R N A N C E When necessary, other specialised committees are set up by the Board on an adhoc basis to address specific matters. In accordance with the requirements of the Code, the following documents are available for consultation on the Company’s website: i. Terms of Reference of the Corporate Governance and Conduct Review Committee; ii. Audit and Compliance Committee Charter; iii. Terms of Reference of the Risk Management Committee; and iv. Terms of Reference of the Board Investment Committee. The terms of reference of these committees are reviewed on an annual basis by each committee and any proposed amendments are submitted to the Board for approval. It is to be noted that for the year under review, the scope of the terms of reference of the Corporate Governance and Conduct Review Committee, the Audit and Compliance Committee Charter and the terms of reference of the Board Investment Committee were updated. In order to ensure business continuity while observing safety precautions following the restrictions mandated by the Government to tackle the COVID-19 pandemic, the Board and Committee meetings were conducted by means of video conference during the lockdown. 2.3 Directors’ remuneration and attendance The remuneration of non-executive Directors consists of a mix of attendance and retainer fees. The executive Director does not receive additional remuneration for serving on the Board of the Company or its committees. His remuneration package as an employee of the Company, including performance bonuses, is in accordance with market rates. The remuneration of the executive and non-executive Directors are reviewed and recommended for approval to the Board on an annual basis by the Corporate Governance and Conduct Review Committee. The non-executive Directors are not paid any performance bonuses. Directors’ attendance at Board and Committee meetings as well as their remuneration (including remuneration received from subsidiaries) during the financial year ended 30 September 2021 are set out in the table below. Attendance Interests Remuneration Board meetings ACC CGCRC RMC BIC Direct % Indirect % MUR TIMOL, Aisha 9/9 n/a 4/4 n/a 5/5 0.0012 nil 1,720,000 DARGA, Amédée 9/9 6/6 n/a n/a 5/5 0.0013 nil 940,000 JAUNBOCUS, Fareedooddeen 9/9 6/6 n/a 4/4 n/a nil nil 920,000 MOTET, Denis 9/9 6/6 n/a 4/4 n/a 0.0044 nil 1,090,000 SOMEN, David 8/9 n/a 4/4 n/a n/a nil nil 1,420,000 TAYLOR, Colin 9/9 n/a n/a 4/4 5/5 0.0416 3.54 910,000 TAYLOR, Matthew1 8/9 5/6 n/a n/a n/a 0.0059 1.63 680,000 TAYLOR, Philip 9/9 n/a 3/4 n/a n/a nil 3.54 660,000 TAYLOR, Timothy1 8/9 n/a 3/4 n/a 5/5 0.4108 8.08 700,000 VAN BEUNINGEN, Mark 9/9 n/a 4/4 4/4 5/5 nil nil 16,400,000 1 Sebastian Taylor attended a Board meeting as alternate director to Timothy Taylor and Matthew Taylor.
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