CAV Annual Report 2021

“SUPPORT THE GROWTH OF THE AEROSPACE, DEFENCE AND ADVANCED MANUFACTURING INDUSTRIES”

b) Human Resources and Remuneration Committee The HR & RemCo has an independent role, operating as a custodian of HR related matters and making recommendations to the board for its consideration and final approval. The HR & RemCo does not assume the functions of management and involve themselves with operational HR responsibilities. The membership of the committee comprises of three non-executive directors. The Chairperson is appointed by the Board. The terms of reference stipulate the membership and tenure of the members of the Committee. Executive Management is required to attend the committee meetings by invitation. As at 31 March 2021, the Committee consisted of the following one board member; • Dr. Anneline Chetty (Chairperson); Roles and responsibilities The HR & Remuneration Committee’s tasks include the following: • Overseeing overall human resources policies; • Ensuring that the CAV complies with labour legislation and regulations and advising the Board on human resources and labour relations matters; • Formulating the Human Resources Strategic Plan that supports the achievement of the CAV’s strategy and business plans; • Reviewing and making recommendations on remuneration policies for the CAV; • Oversee functions of Nominations and consider board succession; and • Determine the Board’s continuing development programme. Activities of the Committee in 2020/21 The HR and Remuneration Committee met four times during the 2020/21 to, amongst other activities: • Approve the strategic plan for the CAV’s human resources; • Monitor staff appointments; • Ensure that the CAV implements measures to retain skilled staff; • Monitor skills development and training activities; • Monitor compliance with relevant labour laws and regulations; and

• Oversee functions related to Social and Ethics; and • Oversee the company’s risk management, including but not limited to oversight of the development and implementation of the company’s risk framework and strategy. Activities of the Committee in 2020/21 The Audit and Risk Committee met two times during 2020/21 financial year to, amongst other activities: • Consider and approve 2020/21 Internal Audit Plan and Rolling three-year plan; • Consider and approve the draft Annual Financial Statements for 2019/20; • Ensure that appropriate internal control systems are designed, implemented and maintained throughout the Company; • Ensure the Company’s compliance with relevant legislations; • Consider quarterly internal audit reports; • Monitor and assess the risk management activities of the Company; • Consider 2019/20 annual reports; and • Consider and recommend quarterly management reports to the Board. As at 31March 2021 the Committee consisted of the following members, but due to quorum requirement no meeting was held since October 2020; • Mr. Shaun Moses • Dr. Anneline Chetty CAV is in the process of appointing additional boardmembers and the audit & risk committee members. The audit and risk committee work was carried out by the Board. Attendance by members of the Audit and Risk Committee during the financial year ended 31 March 2021 is shown: Name 28/07/2020 14/09/2020 Mr. Nitin Gunga √ √ Dr. Anneline Chetty √ √ Mr. Shaun Moses √ √ Table 2: Attendance of the Audit and Risk Committee Meeting N.B Mr Nitin Gunga resigned from the Board in September 2020, therefore the Committee did not meet since it did not quorate.

CENTURION AEROSPACE VILLAGE NPC I ANNUAL REPORT I 2020/21

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