374. The Board is responsible for the company’s compliance with applicable laws and non -binding rules, codes and standards and it should ensure that the company, its officers, employees and agents comply with and adhere to them.

375. The risk of non-compliance should form an integral part of a company’s risk management framework.

376. The Board should delegate to management the implementation of an effective compliance framework and the processes connected with it.

377. The Board should ensure that compliance is understood to be more than mere observance of laws and regulations but an ethical imperative for the governance of the company. Compliance with applicable laws must be understood not only in terms of the obligations which the law creates but also in terms of the rights and protections that it affords to the company.

379. Information disclosed by the Board about compliance with the applicable laws, rules, codes and standards should enable investors and other stakeholders to assess the governance of the company when making investment decisions.

• According to the NATIONAL CODE ON CORPORATE GOVERNANCE ZIMBABWE