Overseeing the management of AIG;

Providing strategic direction through approving and periodically reviewing the strategic plan;

Approving management's policies, strategy and performance objectives;

Approving the annual budget including targets for revenue, surplus or deficit, capital expenditure, and cash flows, as proposed by management;

Approving and monitoring the progress of major capital expenditure, capital management, acquisitions, divestitures and mergers;

Appoint or remove the CEO

Appointing and removing the company secretary;

Approving succession plans for the management team;

Monitoring management's performance, implementation of strategy, and allocation of resources to achieve the business policies, strategies, objectives and budgets;

Maintaining succession plans for the Honorary Officer positions of President and Vice-Presidents;

Approving (subject to Risk and Audit Subcommittee endorsement) the appointment of the external auditor;

Approving Charters of Board committees;

Approving and monitoring financial and other reporting;

Admission of members;

Endorsement of Registered Professional Geoscientists

Reporting to members;

Monitoring the identification of business risks to ensure appropriate compliance frameworks and controls and an appropriate culture of risk management are in place;

Reviewing and ratifying systems of

	risk management,
	internal compliance and control,
	legal compliance, and
	compliance with AIG’s ethical standards and policies, to ensure appropriate compliance frameworks and controls and an appropriate culture of risk management are in place; and
	monitoring compliance with best practice corporate governance requirements;

The Board will, on a regular basis, undertake a review of its responsibilities and the responsibilities of management to ensure that they remain appropriate for the business conducted by AIG.