Common use of Governance Framework Clause in Contracts

Governance Framework. 4.1 Invest NI has an established Corporate Governance Framework which reflects all relevant good practice guidance. The framework includes the governance structures established within Invest NI and the internal control and risk management arrangements in place. This includes its Board and Committee Structures. 4.2 An account of this is included in Invest NI’s annual Governance Statement together with the Invest NI Board’s assessment of its compliance with the extant Corporate Governance Code of Good Practice (NI). Any departure from the Corporate Governance Code must be explained in the Governance Statement. The extant Corporate Governance Code of Good Practice (NI) is available on the Department of Finance (DoF) website. 4.3 Invest NI is required to follow the principles, rules, guidance and advice in Managing Public Money Northern Ireland. A list of other applicable guidance and instructions which Invest NI is required to follow is set out in Annex 6. Good governance should also include positive stakeholder engagement, the building of positive relationships and a listening and learning culture. 4.4 Invest NI is a public authority as defined in the UK Subsidy Control Act 2022. It must therefore ensure that its subsidy schemes and the individual subsidies that it awards to enterprises comply with the Subsidy Control Act 2022. Where an enterprise falls within the scope of the Windsor Framework, as detailed in Section 48 of the Act, Invest NI's subsidy schemes and individual awards must comply with the European Union's State aid rules.