Risk management: The succession planning and risk management must be discussed at least once a year.
Related party transaction: All material related party transactions shall require approval of the shareholders through resolution and no related parties shall vote to approve such resolutions.
Positives
More power to independent director: The recommendation that at least half of the company’s board must comprise of independent directors is a very positive step. And now with a 50% voting right independent directors can no longer argue that they couldn’t do anything since they were in a minority.
