Board composition and compliance obligations require prompt vacancy filling, quorum with independent director, and quarterly compliance reviews. Regulation 26B requires the Manager's Board to have at least six directors including one woman independent director, with prompt filling of vacancies that create non compliance. Quorum is one third of total strength or three directors, including an independent director, and virtual participation counts. The Board must review quarterly compliance reports for all applicable laws, receive minimum information per Schedule VIII Part A, and obtain compliance certificates from the Compliance Officer, CEO and CFO with supporting evidence as set out in Schedule VIII Part B. The Manager's recommendation must be included in unitholder notices for specified agenda items.
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Board composition and compliance obligations require prompt vacancy filling, quorum with independent director, and quarterly compliance reviews.
Regulation 26B requires the Manager's Board to have at least six directors including one woman independent director, with prompt filling of vacancies that create non compliance. Quorum is one third of total strength or three directors, including an independent director, and virtual participation counts. The Board must review quarterly compliance reports for all applicable laws, receive minimum information per Schedule VIII Part A, and obtain compliance certificates from the Compliance Officer, CEO and CFO with supporting evidence as set out in Schedule VIII Part B. The Manager's recommendation must be included in unitholder notices for specified agenda items.
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