Comrade Trustee Services Limited (CTSL) is managed under the direction of the board of directors.
The board has eight directors: three representatives of the Fund (two contributors and one pensioner) and five independent directors. See the current members below.
The role of the board
Collectively, the board members plan, oversee and set corporate goals, and decide on the strategic direction of the Fund.
The board is responsible for the Fund’s corporate governance, including:
- corporate planning
- establishing goals for management
- monitoring achievement of these goals.
Read more about good corporate governance.
Criteria for board members
All board members must meet strict criteria, including a ‘fit and proper’ test, to ensure that they:
- are legally eligible
- have the necessary skills, knowledge, experience or expertise in managing commercial entities
- can add value and enhance corporate governance.
Appointments to the board must be approved by the Bank of Papua New Guinea (the Fund regulator).
Directors hold office for three years. After this, they may nominate for re-election subject to any restrictions in the company constitution and approval by the Central Bank.