The governance structure of the Company where the responsibilities of the Board are delegated to the relevant Board Committees and the Management of the Company is illustrated below: CORPORATE GOVERNANCE STRUCTURE CORPORATE GOVERNANCE OVERVIEW STATEMENT Finance Committee Property Management Committee Procurement Committee (Funds) SHARIAH COMMITTEE TRUSTEE Compliance Officer Company Secretaries & Registrar BOARD NOMINATION AND REMUNERATION COMMITTEE (BNRC) External Auditor Internal Auditor Enterprise Risk Management Committee (ERMC) BOARD AUDIT AND RISK COMMITTEE (BARC) BOARD INVESTMENT COMMITTEE (BIC) Management Committee CEO BOARD OF DIRECTORS UNITHOLDERS BOARD SUSTAINABILITY COMMITTEE Sustainability Management Committee (SMC) The main purpose of a governance structure is to address the central issues revolving the four components of the governance operating model summarised below: Components Subcomponents Description STRUCTURE • Committee structure and charters • Organisational design and reporting lines • Control and support function roles • Outlines board and management committee structures, mandates, membership and charters • Establishes design of governance framework • Delineates organisational structure, reporting lines and relationships • Highlights roles and independence of control and support functions from business owners OVERSIGHT RESPONSIBILITIES • Committee (s) authorities and responsibilities • Management accountability and authority • Board oversight and responsibilities • Reporting, escalation, and veto rights • Outlines the type of committees (board and management) and associated responsibilities • Specifies functional accountabilities for day-to-day management of business practices across the enterprise • Delineates board and management approved policies supporting delegation of authority (decision rights) including reporting, escalation and veto rights Governance Structure 101 CORPORATE GOVERNANCE 1 2 3 5 6 AL-`AQAR HEALTHCARE REIT ANNUAL REPORT 2023
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