C.3. Board Substance

The presence of actual activity by the board of directors as well as the effective role that the board member play within the broader context of the Operation.

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LOGO GOLD B
LOGO GOLD A
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CHAPTER C

iGAMING DATABASE

LOGO GOLD C

ANTI-MONEY LAUNDERING

BOARD SUBSTANCE

The IP-Operator is obliged to operate as a resident of which at least half of its statutory board members are required to be residents as well. A resident board member is required to have the necessary professional knowledge to properly perform its duties as Non-Executive Director (the: "Non-Executive"), whose duties shall include accounting, taxation, any local requirements and review of third party (B2B) Agreements. The Non-Executive is also required to file quarterly reporting on Money Laundering, Data Protection and Responsible Gaming. We would recommend that a professional corporate service provider shall be retained to serve as Non-Executive at all times and furthermore have a representative from within the circle of the client as committed to the board of the IP-Operator as well in the capacity of Executive Director (the: "Executive") This person shall be responsible for preparing the factual quarterly reporting for the purposes of review and approval by the Non-Executive.

In the event that non Non-Executive or Executive has been installed at this time, we would recommend to IP-Operators do organize this at the earliest convenience. Please note that all members of the board of directors shall have to be equally responsible. Nevertheless we recommend to limit the mandate of the Executive to a minimum (four eyes only, the Non-Executive has to co-sign at all times), these restrictions need to be publicly accessible.

We recommend for this purpose tailored articles of incorporation, for more information, please contact us.

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