SCHEDULE 5Systems and processes requirement

Governance

8

Whether there are systems and processes—

a

for the identification of roles and responsibilities in respect of the governance of the scheme;

b

for the appointment of persons with sufficient skills, knowledge and experience to carry out those roles and responsibilities;

c

for setting clear objectives concerning the governance of the scheme and for monitoring whether those objectives are being met within the relevant timescales;

d

for documenting and reporting matters relating to the governance of the scheme;

e

for identifying and addressing any failures in the governance of the scheme.