The proposed changes to the Corporate Governance Code in the Consultation Paper have been considered by our colleagues in Matheson. The changes proposed include changes to the composition of the risk committee / board sub-committees, limits on directorships and a proposal to include a new section on the role and responsibilities of the Chief Risk Officer. The Central Bank has also specifically asked for comments on whether the Code should contain rules on board diversity in relation to board composition and if so, what type of rules might be considered.