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Remuneration Committee

Terms of Reference

Approved by the Board 4 November 2003

1. The remuneration committee comprises the Chairman, the Deputy Chairman and one other nominated member who is not an officer of the Port Authority. Having regard to the principle that levels of remuneration need to be sufficient to recruit, retain and motivate people of the appropriate calibre, the  Committee is to:
1.1 determine the remuneration and other conditions of service of officers of the Port Authority who are also members of the Port Authority
1.2 consider the level of remuneration to be paid to the Chairman and other members of the Port Authority, other than officers, and make recommendations for consideration by the Port Authority
1.3 consider any proposals regarding senior management (ie officers on ExCo) remuneration as the Chairman of the Port Authority may from time to time wish to refer to the Committee.
1.4 meet no less than once annually.
2 In carrying out its work, the Committee should give consideration to:
2.1 with regard to officers’ pay
  2.1.1 the appropriate pay comparators, as from time to time determined by the members of the Port Authority
  2.1.2 the need to consult the Chief Executive
  2.1.3 any general rise in the level of  staff pay
2.2 with regard to members’ fees
  2.2.1 the time and commitment given by, and the responsibilities of, members who are not officers
  2.2.2 any general rise in the level of  staff pay
2.3 where officers are released to serve as non-executive directors elsewhere, whether such officers should retain all or part of any remuneration received in regard of such appointments