Terms of Reference
The Business Panel will report to the Board of CIC. In the event of any disagreement the decision of the Board of CIC will be final.
The Business Panel will be responsible for overseeing the ongoing activities undertaken within the CIC group, which are not part of the membership service or ad-hoc project activity. This will include business activities directly overseen by CIC (ie the DQI and publication of contracts); joint ventures (ie the Construction Industry Summit); wholly-owned subsidiary companies (ie CICAIR Ltd); or companies in which CIC has an ownership interest (ie CCS Ltd).
All requests or proposals for new business activities to be undertaken by CIC, which are outside the remit of Membership services budgeted and paid for from subscription income, or specific Project activity, will be passed to the Business Panel for approval. The Business Panel will need to be satisfied that the funding and staff resources are in place to host the business activity and that the business’s objectives fit within the strategic priorities of CIC.
Progress of business-based activity will be reported to subsequent meetings of the Business Panel.
The Business Panel will be chaired for two consecutive years by the outgoing Chairman in his/her second year of office and the outgoing Deputy Chairman. The incoming Deputy Chairman/the Chairman in his/her first year of office; the Chief Executive and the Honorary Treasurer/Finance Director will be ex-officio members.
Membership of the Business Panel will be appointed annually by the Board of CIC, to include a majority of members who are independent of the business interests within the remit of the project (ie not the Chairman or Secretary of any specific business activity).
The Chairman and Secretary of each CIC business, as identified in paragraph 2 above, will be entitled to attend meetings of the Business Panel as observers.
The Business Panel will meet no less than four times per year; and meetings will generally be timed to follow meetings of the statutory board, later on the same day.