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18A.22

A Competent Person must be independent of the issuer, its directors, senior management and advisers. Specifically the Competent Person retained must:—

(1) have no economic or beneficial interest (present or contingent) in any of the assets being reported on;
(2) not be remunerated with a fee dependent on the findings of the Competent Person's Report;
(3) in the case of an individual, not be an officer, employee or proposed officer of the issuer or any group, holding or associated company of the issuer; and
(4) in the case of a firm, not be a group, holding or associated company of the issuer. Any of the firm's partners or officers must not be officers or proposed officers of any group, holding or associated company of the issuer.