Annual Report - 2001 - ARC Resources Ltd.

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CORPORATE GOVERNANCE
In addition, the Trustee has delegated certain matters to the Board of Directors
of ARC Resources including all decisions relating to: (i) issuances of additional trust units;
and (ii) the determination of the amount of distributable income. Any amendment to the
Management Agreement or the Royalty Agreement between ARC Resources and the
Trust requires the approval of the Board of Directors of ARC Resources on behalf of the
Trust.
The Board of Directors of ARC Resources holds regularly scheduled meetings
at least quarterly to review the business and affairs of ARC Resources and make any
necessary decisions relating thereto.
BOARD COMPOSITION
The Board of Directors is presently comprised of seven members, four of whom
are “unrelated directors” within the meaning of the TSE Guidelines.
COMMITTEES
The Board of Directors has established an audit committee comprised of the
four unrelated directors, a reserve audit committee comprised of two unrelated directors
and a compensation committee comprised of three unrelated directors.
ARC ENERGY TRUST AR 2001