Summary
The proposed Code, which is based on The Combined Code on Corporate Governance issued by the Financial Reporting Council (FRC) of the United Kingdom (UK) on 23 July 2003, has been compiled by the Corporate Governance Committee of the Private Sector Organisation of Jamaica. It is proposed that this Code should become effective for annual reporting periods commencing on or after 1st January 2007. It is hoped that those companies that are able to do so will adhere to the principles of the Code as early as possible. The Code sets out the core principles and Code of Best Practice that the Committee proposes for adoption by all publicly listed companies in Jamaica and all other companies, in particular those engaged in the provision of financial services.