Annual Report & Accounts 2017/18

81 NI Water Annual Report and Accounts 2017/18 Governance Directors’ interests in contracts No Director had a material interest at any time during the year in any contract of significance with NI Water. Details of Directors’ interests in other companies are disclosed in Note G4 to the Statutory Accounts. Regulation - ‘ring fencing’ In accordance with the requirements of the regulatory Licence, the Board confirmed, that as at 31 March 2018, it had available to it sufficient rights and assets, not including financial resources, which would enable a special administrator to manage the affairs, business and property of NI Water Limited in order that the purposes of a special administration order could be achieved if such an order were made Regulation - ‘cross directorships’ Directors and employees of NI Water may be Directors of related companies when this is in the best interests of NI Water, and where appropriate arrangements are in place to avoid conflicts of interest. These arrangements include prior approval of any cross directorships by the Board and the Shareholder. In addition, Directors holding cross directorships are required to disclose any such interests prior to making decisions which may result in, or give the appearance of, a conflict of interest. Greenhouse gas emissions Details on greenhouse gas emissions are included on page 45. Disclosure of information to auditors The Directors who held office at the date of approval of this Directors’ report confirm that, so far as they are each aware, there is no relevant audit information of which the Group’s auditors are unaware and each Director has taken steps they should have taken as a Director to make themselves aware of any relevant audit information and to establish that the Group’s auditors are aware of that information. Auditor Pursuant to Section 487 of the Companies Act 2006, the current External Audit contract with KPMG will cease in November 2018. The tender process for a new contract is underway with an anticipated start date in November 2018. By order of the Board Mark Ellesmere Company Secretary 24 July 2018