Nordic Aviation Capital Designated Activity Company’s (the “Company”) Board of Directors has set high standards for the Company’s employees, officers and directors, in respect of sound corporate governance. In order to ensure effective governance and oversight of the management of the Company’s business and to fulfil its responsibilities in this regard, the Board of Directors has established three sub-committees, namely the Audit Committee, the Nominations & Compensation Committee and the Transaction & Risk Committee. These Committees follow the procedures and standards set forth in their respective terms of reference. The Board of Directors may amend the applicable Terms of Reference of, and scope of any authority delegated to, any Committee from time to time.
The Audit Committee reviews the Company’s financial statements before submission to the Board for approval, and has responsibility for financial reporting, internal controls, compliance and the external audit function.
Nominations & Compensation Committee
The primary duties of the nomination and compensation committee are to make recommendations to the Board on the Company’s policy and structure for all remuneration of directors and senior management, as well as giving consideration to the appointment of directors and succession planning for directors and other senior executives.
Transaction & Risk Committee
The primary duties of the transaction and risk committee are to review and approve certain proposed transactions on behalf of the Company, as well as to have oversight of and review all risk factors affecting the Company.