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Financial Services and Markets Act 2000

Paragraph 4: Functions of the non-executive committee

753.The functions of the non-executive members are not restricted by the non-executive committee.  The non-executive committee has three specified functions.  These are:

  • keeping under review the efficiency and economy with which the Authority uses its resources;

  • keeping under review its internal financial controls; and

  • determining the remuneration of the chairman and the executive members of the governing body.

754.The committee’s function of keeping the Authority’s economic and efficient use of its resources under review must be undertaken by the whole committee.  However, the function of reviewing internal financial controls and determining the remuneration of the chairman and executive members of the governing body may be performed by a sub-committee.

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