Question 7 – King III compliance The Bank has been requested to expand upon its King III Code of Governance (King III) compliance and to explain where it does not apply the recommendations as set out in King III, in more detail.
As discussed at the 2010 (OGM), the Bank has conducted a Bankwide gap analysis, and steps are being taken to address those areas we regard as having room for improvement. It is necessary to emphasise that King III is a voluntary code, and a tool for enhancing governance, which is the approach the Bank has taken.