Annual Review by the Independent Non-executive Directors and Auditors Sample Clauses

Annual Review by the Independent Non-executive Directors and Auditors. The independent non-executive Directors will conduct annual review of the continuing connected transactions under the Existing Factoring Service Framework Agreement and the New Factoring Service Framework Agreement as required under Rule 14A.55 of the Listing Rules and confirm in the Company’s annual report whether the applicable revenue limit has been exceeded during the year under review and whether such transactions have been entered into (i) in the ordinary and usual course of business of the Group; (ii) on normal commercial terms or better; and (iii) according to the agreement(s) governing the transactions on terms that are fair and reasonable and in the interests of the Shareholders as a whole. For compliance with Rule 14A.56 of the Listing Rules, the Company will also engage its external auditors to conduct an annual review of the continuing connected transactions under the Existing Factoring Service Framework Agreement and the New Factoring Service Framework Agreement to ensure that, among others, the transaction amounts are within the annual caps and the applicable revenue limit and the transactions are in accordance with the terms of the agreement(s) governing the transactions.
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Related to Annual Review by the Independent Non-executive Directors and Auditors

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