Goldstream Investment Limited (1328) has released the latest version of its Nomination Committee Terms of Reference. The document stipulates that the Committee consists of at least three members appointed by the Board, with a majority being independent non-executive directors. It also requires at least one director of a different gender. The Chairman of the Committee is to be either the Chairman of the Board or an independent non-executive director, while the Company Secretary serves as the secretary. The Committee is expected to meet at least once a year, and a quorum of two members is needed for each meeting.

The Terms of Reference summarize the Committee’s key duties, which include formulating and implementing the company’s nomination policy, assessing candidates for directorships, and reviewing board diversity. The Committee also oversees the assessment of directors’ independence, the development of succession plans for senior positions, and the annual evaluation of the Board’s structure, size, and performance. In addition, the Committee is entitled to request information from management and may seek independent professional advice, at the company’s expense, to support its responsibilities. The newly released Terms of Reference confirms that the Committee must keep full meeting minutes and regularly report its findings to the Board.