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Board Charter

 

The directors of Brookfield Funds Management Limited have drafted a Board Charter to clarify the respective roles of the Board and senior management and to assist in decision making processes in matters relating to Multiplex SITES Trust. Below is a summary of the key terms of the Board Charter.

The purpose of the Board Charter is to clearly outline the structure of the Board and to define the role of the Board as a whole through the identification of a schedule of powers reserved solely for the Board of Directors.

Committees of the Board

In order to assist the Board in fulfilling its role the Audit Committee and the Risk and Compliance Committee have been established.

Role of the Board

The role of the Board is described as follows:

  • Provision of guidance on and approval of the strategy and performance of Multiplex SITES Trust;
  • Monitoring the progress of the financial situation of Multiplex SITES Trust and other objectives;
  • Approving and monitoring the progress of major investments;
  • Oversight and approval of the risk, control and accountability systems;
  • Monitoring compliance with legal, constitutional and ethical standards; and
  • Ensuring effective communication with holders of Multiplex SITES and other stakeholders.

Powers Reserved for the Board

In addition to any matters, which are expressly required by law to be approved by the Board the following powers are specifically reserved for the Board:

  • Acquisition or disposal of any major asset; 
  • Approval of Multiplex SITES Trust financial statements and any significant changes to accounting policies;
  • Approval of dividend or distribution payments;
  • Consideration of recommendations from the Audit Committee for the appointment and removal of auditors;
  • The issue of shares, options, equity instruments or other securities;
  • Any key public statements which relate to significant issues concerning changes to key strategy or performance of Multiplex SITES Trust; and 
  • Changes to the debt and equity structure of Multiplex SITES Trust.

 

 

  
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