Board resolution format for reviewing risk management and key business risks, with mitigation actions and the Section 134(3)(n) statement in the Board's report.
“RESOLVED THAT pursuant to Section 134(3)(n) and other applicable provisions, if any, of the Companies Act, 2013 and the rules made thereunder, the risk management report for the period ended [●] placed before the Board, setting out the key risks faced by the Company, their assessment and the mitigation measures in place, be and is hereby reviewed and taken on record, and the mitigation actions, risk owners and timelines set out therein be and are hereby approved.
RESOLVED FURTHER THAT the Board, having considered the said report [and the observations of the Audit Committee / Risk Management Committee], records that [no element of risk which, in its opinion, may threaten the existence of the Company has been identified / the elements of risk listed in the report as critical may, in its opinion, threaten the existence of the Company], and that this position be reflected in the statement on the development and implementation of the risk management policy to be included in the Board's report for the financial year [●].
RESOLVED FURTHER THAT Mr./Ms. [●], [Chief Risk Officer / Chief Financial Officer], be and is hereby authorised to monitor the implementation of the approved actions and report progress to the Board at its next meeting, and any Director and/or the Company Secretary of the Company be and is hereby severally authorised to do all such acts, deeds and things as may be necessary for giving effect to this resolution.”
No rules under this Section yet.