National Property Fund Ltd (NPFL) was incorporated on 05 May 2015. The primary objectives of NPFL are to repay the victims of the BAI affair, namely the Super Cash Back Gold (SCBG) policy holders and the Bramer Asser Management Ltd (BAML) investors.

NPFL is wholly owned by the Government of Mauritius.

1. PREAMBLE

1.1 Complementary to Law and Articles


The Board Charter sets out the objectives, roles and responsibilities of the Board of Directors of the National Property Fund Ltd (hereinafter referred as ‘NPFL’ or ‘the Company’). This Charter should be read in conjunction with the Company’s Constitution, the Mauritian Laws and Regulations, which shall prevail over this Charter.

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1. PREAMBLE

1.1 The Audit and Risk Committee (hereinafter referred to as ‘the Committee’) has been set up, in accordance with the National Code of Corporate Governance, to assist the Board of Directors in fulfilling its fiduciary responsibilities related to corporate accounting, financial reporting practices, quality and integrity of Corporate Reporting, in terms of financial reports, compliance, internal controls, risk management and business ethics.

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1. PREAMBLE

The members of the Board of Directors (the “Board”) of National Property Fund Ltd (“NPFL” or the “Company”) acknowledge and accept the scope and extent of their duties as Directors to the Company.

This Code of Ethics (the ‘Code’) must not be considered as an exhaustive document and must be read in conjunction with the Constitution of the Company, the Board Charter, the National Code of Corporate Governance and applicable Law.

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1. PREAMBLE

1.1 The primary function of the Corporate Governance Committee (hereinafter referred to as the ‘Committee’) of National Property Fund Ltd (‘NPFL’ or the ‘Company’) is to advise the Board of Directors on all aspects of corporate governance, nomination and remuneration of Directors/Senior Managers as well as to recommend best practices for NPFL. The Committee shall ensure that the disclosure requirements with regards to corporate governance, whether in the annual report or other reports on an ongoing basis, are in accordance with the principles of the applicable Code of Corporate Governance.

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