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Omnibus approval for related party transactions on annual basis.
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....tee may make omnibus approval for related party transactions proposed to be entered into by the company subject to the following conditions, namely:- (1) The Audit Committee shall, after obtaining approval of the Board of Directors, specify the criteria for making the omnibus approval which shall include the following, namely:- (a) maximum value of the transactions, in aggregate, which....
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....ommittee shall satisfy itself on the need for omnibus approval for transactions of repetitive nature and that such approval is in the interest of the company. (4) The omnibus approval shall contain or indicate the following: - (a) name of the related parties; (b) nature and duration of the transaction; (c) maximum amount of transaction that can be entered into; ....