Delegation by the Board
(Extracted from Sun Hung Kai Properties Limited 2010/11 Annual Report dated 15 September 2011)
The Board directs and approves the Group’s overall strategies. Given the diversity and volume of the Group’s businesses, responsibilities for execution and daily operations are delegated to the management. The Board gives clear directions as to the powers of the management, and periodically reviews the delegations to the management to ensure that they are appropriate and continue to be beneficial to the Group as a whole.
All committees have specific terms of reference clearly defining their powers and responsibilities. All committees are required by their terms of reference to report to the Board in relation to their decisions, findings or recommendations, and in certain specific situations, to seek the Board’s approval before taking any action.
