The Finance Committee approve new legal structures and changes to existing structures for subsidiaries, joint ventures and branches.
Departments should in the first instance forward details of any proposed change to the Head of Central & Research Accounting [1], in the Finance Division.
A template checklist is provided that outlines what material and sign-offs the Finance Committee would expect in making and informed decision. Guidance is also provided as to how the checklist can be completed.
New and amendments to legal structures checklist [2] (updated 29 November 2024)
Notes:
Approach by a department to the Finance Division (Head of Central & Research Accounting) to establish/change a new legal structure.
a) Assign leads:
b) Finance Director and Director of Legal Services are informed
c) Establish process with all contributing teams to complete checklist:
Departmental and Finance point persons engage with all the teams in the checklist sign-off.
a) Create a common platform if knowledge:
b) Discussions /interactions with checklist signatories.
c) Complete Finance Committee documentation:
a) Final Finance Director and Legal Services Director clearance:
b) Final papers to the Finance Committee support team in the Finance Division (Head of Directors Office)
c) Attendance at Finance Committee if required.