2014 Annual report

Committees of the Board of Directors

In order to implement the principles contained in the Corporate Governance Code, the Company established a consultative and advisory bodies — Committees under the Board of Directors — for preliminary consideration of the most important issues of the Company’s activities: Auditing Commission, Personnel and Remuneration Committee, Committee for Strategy and Development, Reliability Committee and Committee for Technological Connection to Electric Grids (hereinafter, the Committees).

The Committees play an active part in the process of making decisions by the Board of Directors of the Company, increasing the efficiency of the Board of Directors activities. They make a preliminary review of the issues and present to the Board recommendations on the most important issues within its competence. For the Board of Directors decision of the Committees are advisory in nature.

Activities of the Committees are regulated by the Regulation on Committees, which determines questions within their competence, the procedure for forming their structure and operation, as well as the rights and duties of Committees’ membersThe full text of the Regulations on the Committees of the Board of Directors of JSC IDGC of the North-West is available on JSC IDGC of the North-West website at www.mrsksevzap.ru..

Quantitative and individual compositions of each Committee are determined by resolution of the Board of Directors of the Company.

Activities of the Committees are carried out in accordance with the plans of the Committees’ work annually approved at the first meeting of the Committees elected in a new composition.