PRONED

3 items, ordered by date.

1. Letter, dated 20 August 1991, and notes on remuneration committees from Colin St Johnston, PRONED

Letter accompanies draft guidelines and survey of remuneration committees will follow in hard copy.

2. Letter, 4 September 1991, from M G Lickiss about proposed outcome of Corporate Governance Committee

Letter gives personal views of MG Lickiss on independence of non-executive directors and their responsibilities for discussing the process of the audit with external auditors, separation of the role of Chief Executive and Chairman, internal system controls applying to quoted companies.

3. Letter from Financial Reporting Council, dated 6 August 1992, and extract re non-executive director, and Arthur Andersen’s Audit committees for the 1990s

Covers the role of institutional shareholders, auditors and non-executive directors.