| Temasek Review 2011

The Legal & Regulations unit is organised around the core functions of transactional and advisory support, and regulatory and internal compliance.

Acceptable legal risk parameters are defined and institutionalised by the legal risk management framework, and complemented by policies, processes and systems to provide effective and consistent management of legal risks. For example, our policy permits only personnel authorised by Board resolution to enter into derivatives transactions within defined scopes and limits on behalf of the designated entities.

Regulatory compliance is supported by robust securities tracking systems including automated systems for Singapore and Hong Kong. Regulatory requirements are continually reviewed and updated to track changes in law or regulations.

The Temasek Code of Ethics and Conduct provides the framework to guide our Board Directors and staff in their daily dealings. The Code encapsulates our MERITT values, with integrity as one of its overarching principles. Relevant policies covering areas such as insider trading, receipt and offer of gifts and entertainment and whistle-blowing, form an integral part of the Code.