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The responsibility of the board of supervisors of Postal Savings Bank of China Co., Ltd. (the “Bank”)

Date: 2016-09-23

 

The Board of Supervisors shall perform the following duties:

(1) to supervise the performance of the Board and senior management, to supervise and question the duty of performance of directors and senior management personnel, and to urge directors and senior management personnel to correct their acts which impair the benefits of the Bank;

(2) to propose the dismissal of or to initiate litigation against the directors and senior management personnel who breach laws, administrative regulations, the articles of association of the Bank or the resolution of the shareholders’ general meeting;

(3) to check and supervise the financial activities of the Bank;

(4) to supervise the business decisions, risk management and internal control of the Bank, to guide the internal audit department of the Bank to independently perform its duties of audit and supervision, and to carry out the business management and performance appraisal for the internal audit department;

(5) to propose to convene an extraordinary shareholders’ general meeting;

(6) to submit proposals to the shareholders’ general meeting;

(7) to formulate amendments to the rules of procedures of the Board of Supervisors;

(8) to supervise the implementation of policies and general management system of the Bank;

(9) to nominate supervisors representing shareholders, external supervisors and independent directors;

(10) to conduct audit on resigning directors and senior management personnel as necessary;

(11) to communicate with directors on behalf of the Bank;

(12) to review financial reports, operation reports and profit distribution proposals submitted by the Board to the shareholders’ general meeting, and to engage, on behalf of the Bank, certified accountants and auditors to review such reports if any problems are identified; and

(13) to perform other duties as required by relevant requirements of laws, administrative regulations, departmental rules and the articles of association of the Bank and authorized by the shareholders’ general meeting.