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Governance
In our first annual report (2003), our Chairman, Gordon Cunningham, described our governance philosophy as follows: “Being in compliance with the mechanics of governance rules provides the appropriate framework of good governance, but doesn't ensure it...Good governance is ensured by having in place people, whether trustees or management, who have the skill sets to run a business, the intellectual capacity and business experience required to understand the issues and risks facing that business, the time to invest to ensure that information provided is understood, and the integrity to stand up and be counted, should anything not pass the reasonably prudent man's litmus test.” This remains an excellent description of our governance philosophy.
Our framework for governance is established by applicable legislation and by the following key documents:
- Trustees' Mandate
- Role and Mandate of the Chairman
- Mandate of the Chief Executive Officer
- Governance and Compensation Committee Terms of Reference
- Audit Committee Terms of Reference
- Disclosure Policy
- Black-out Policy
- Whistleblower Policy
- Code of Business Conduct
We strive to ensure good governance by utilizing the talents and accumulated experience of a board of seven trustees, six of whom are independent, and by encouraging open, ongoing and productive discussion between trustees and management and between management and the investing public.
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