PROPOSED REFINEMENTS TO THE CODE OF GOVERNANCE FOR CHARITIES AND INSTITUTIONS OF A PUBLIC CHARACTER

The Charity Council invites the public to provide feedback on the proposed refinements to the Code of Governance for Charities and Institutions of a Public Character (IPCs). The public can send their feedback to the Charity Council via e-mail to charity_council_sec@mccy.gov.sg between 20 September and 18 October 2016.

Introduction

The Code serves as a best practices guide and all charities are strongly encouraged to apply the principles and practices of governance and management. The Code also helps charities to be more effective, transparent and accountable to their stakeholders.

In August 2015, the Charity Council embarked on a second refinement of the Code. The objective was to enhance the Code’s relevance and clarity, taking into consideration governance developments in other jurisdictions and increased global focus on good governance, transparency and accountability to enable informed giving decisions. The refined Code is targeted to be launched in early 2017. Charities and IPCs will need to apply the Code’s new reporting requirements, if any, from the financial year beginning on or after 1 January 2018.

Scope of Consultation

Charities, as community organisations working for public benefit, are accountable to the public and other stakeholders. For this reason, the Charity Council is seeking public feedback on the proposed amendments to the Code. Similar to the earlier feedback gathered at the dialogue sessions, public feedback on the proposed refinements will be taken into consideration where necessary.

Some key features of the proposed refinements to the Code of Governance are highlighted below.

• Introduction of a maximum term limit of 10 years, for at least two-thirds of the charity’s governing board members;
• Emphasis on the importance of Risk Management as part of Internal Controls, to ensure that there is a process to identify, monitor and review the charity’s key risks; and
• Promotion of disclosure and transparency on information of Board such as attendance to meetings and remuneration; and information of staff total annual remuneration, among others.

Period of Consultation

The period of consultation is from 20 September 2016 to 18 October 2016.

Feedback Channel

Interested members of the public can submit their comments by 2359 hours on 18 October 2016 via the following channels:

• Email to: charity_council_sec@mccy.gov.sg
• Fax to: 6837 8090; or
• Post to: Charities Unit (Outreach)
  140 Hill Street, Level 2
  Singapore 179369
  Subject: “Consultation on proposed refinement to the Code of Governance”

Publication of Feedback

A summary of key comments and responses received will be consolidated and published following the close of the consultation exercise. We will not disclose the identity of person(s) providing the feedback, to maintain the confidentiality of feedback received.