Orient Securities (03958) has released an updated set of Terms of Reference for its Remuneration and Nomination Committee. According to the new document, the committee is established to enhance the remuneration assessment and management of directors and senior management, in line with various laws and regulatory requirements, including the Company Law of the People’s Republic of China and the Hong Kong Listing Rules.

The Terms of Reference outline the committee’s composition, specifying that it should consist of three to five directors, with a majority being independent directors. The document clarifies key responsibilities, such as evaluating the Board’s structure, size, and skills; making recommendations on director and senior management appointments; formulating and reviewing remuneration policies; and ensuring compliance with pertinent regulations. It also addresses procedures for convening meetings, voting protocols, and confidentiality obligations.

The committee operates under authorization from the Board, and recommendations on director candidates or remuneration plans for directors must receive Board approval and be submitted for consideration at shareholders’ general meetings. The Terms of Reference take effect upon approval by the Board, with any previous version simultaneously repealed.