Annual Report 2012 - National Savings Bank

66ROOTED IN OUR HERITAGEGOVERNANCE REPORT3 (1) The Responsibilities of the Board3 (1) (vi) The Board procedures shall ensure that a Director,who has not attended at least two-thirds of themeetings in the period of 12 months immediatelypreceding or has not attended the immediatelypreceding three consecutive meetings held, shallcease to be a Director.3 (1) (vii) The Board shall appoint a Company Secretary whosatises the provisions of Section 43 of the BankingAct No. 30 of 1988.3 (1) (viii) All Directors shall have access to advice andservices of the Company Secretary with a view toensuring that Board procedures and all applicablerules and regulations are followed.3 (1) (ix) The Company Secretary shall maintain theminutes of Board meetings and such minutes shallbe open for inspection at any reasonable time, onreasonable notice by any Director.3 (1) (x) Minutes of Board meetings shall be recorded insufcient detail so that it is possible to gather fromthe minutes, as to whether the Board acted withdue care and prudence in performing its duties.The minutes shall also serve as a reference forregulatory and supervisory authorities to assess thedepth of deliberations at the Board meetings.The NSB Act species the procedure for appointmentand removal of a Director. During the year, howeverthere has not been any such non-attendance as speciedby the Direction. The Board Secretary maintains anattendance register to ensure compliance.Complied withThe position of the Board Secretary was held by anAttorney-at-Law who was a senior legal ofcer withinthe permanent cadre of the Bank. The said ofcer waspromoted to the Assistant General Manager-BoardSecretary.The procedure for the Directors to have access to theBoard Secretary for advice and services was approved byIRMC and circulated to the Board for its approval.The Board Secretary maintains the minutes.The procedure for this was approved by IRMC andcirculated to the Board for approval.Complied withNATIONAL SAVINGS BANK . ANNUAL REPORT 2012