Principle 2: Board composition and guidance

There should be a strong and independent element on the board, which is able to exercise objective judgement on corporate affairs independently, in particular, from management. No individual or small group of individuals should be allowed to dominate the board’s decision-making.

Consistent with the MacCap Fnd policy, MIIF’s board has five members, four (i.e. a majority) of whom are independent.

Information on the board members is provided in the Directors’ profiles section. The current members of the board have the necessary core competencies set out in the Code. The board is of an appropriate size to facilitate effective decision-making, taking into account the nature and scope of operations of MIIF, and the management arrangements with MIMAL.

Principle 1	Principle 3