The Investment Advisory Committee’s primary responsibility is to review all investment proposals and investment performances and makes independent recommendation to the Board. The IAC also has an important role prescribed by the respective Trust Deeds for the subsidiaries that are corporate trustees of the oil and gas trusts.
The IAC also acts as an independent committee for the subsidiary Boards pertaining to investments proposals under consideration by the respective boards. The Investment Policy and Guidelines provides the framework within which decisions that are made. Each of the oil and gas subsidiaries under MRDC have their own Investment Rules and Development Rules prescribed in the respective Trust Deeds.
When an Investment proposal is brought to one of the Boards by a director or the Management, the boards would then task the Management to carry out due diligence on the proposal. Part of the due diligence exercise includes vetting by the IAC. Investment decisions are made by each respective Board and are not imposed by the Board or the Management of MRDC.
The IAC committee members are;
- Simon Tosali (Chairman - Non Executive Member)
- Harry Kore (Non Executive Member)
- Dairi Vele (Non Executive Member)
- Augustine Mano (Executive Member)