Русско-англо-русский юридический словарь

Matters reserved for the board

An effective board controls the business but delegates day to day responsibility to the executive management. That said there are a number of matters which are required to be or, in the interests of the company, should only be decided by the board of directors as a whole. It is incumbent upon the board to make it clear what these matters reserved for the board are inline with the UK Corporate Governance Code (the ’Code’) that states: ’There should be a formal schedule of matters specifically reserved for the board’s decision’ and that the annual report should contain a high level statement of which types of decisions are to be taken by the board and which are to be delegated to management. (ICSA website)