Financials 2019 Integrated Annual Report 2019

3 AVBOB MUTUAL ASSURANCE SOCIETY AND ITS SUBSIDIARIES REPORT OF THE GROUP SOCIAL AND ETHICS COMMITTEE FINANCIAL STATEMENTSFOR THE YEAR ENDED • - - - - • • • • MPP NYAMA CHAIRPERSON Detailed information on the activities of the Committee is contained in the corporate governance section of the integrated annual report of the Group. The Committee is satisfied with the Group's compliance with its social and ethical responsibilities in terms of the Companies Act 71 of 2008, which further emphasises the Group’s sense of responsibility as a fair, honest and transparent Group. 25 September 2019 Consumer relationships, including the Group’s policies and records relating to advertising, public relations and compliance with consumer protection laws. the Organisation for Economic Co-operation and Development (OECD) recommendations regarding corruption; the Employment Equity Act 55 of 1998; and the Broad-based Black Economic Empowerment Act 53 of 2003. Good corporate citizenship. The environment, health and public safety, including the impact of the Group’s activities and its products or services. The Group Social and Ethics Committee has been constituted as a sub-committee of the Board of Directors in accordance with applicable legislation and regulations. The Committee is chaired by an independent non-executive director. The Committee comprised of two non-executive directors, three executive directors and one other member, who have the necessary skill, knowledge and expertise required to perform the statutory duties and responsibilities of the Committee in terms of section 72(4) and (5) of the Companies Act 71 of 2008. Mr LB Dlamini retired with effect 30 June 2019. The recruitment process is underway to fill this vacancy on the Board and the Social and Ethics Committee. The Committee met three times during the financial year under review, and executed its statutory duties and responsibilities in accordance with the Committee Charter, in terms of which the following areas were monitored: Social and economic development, including the Group’s standing in terms of the goals and purposes of: the ten principles set out in the United Nations Global Compact Principles; Labour and employment. 84