Collective management organisations: supervisory function
8.—(1) A collective management organisation must ensure that it has in place a supervisory function for continuously monitoring the activities and the performance of the duties of the persons who manage the business of the organisation which satisfies the requirements of this regulation.
(2) The requirements of this regulation are—
(a)there is a fair and balanced representation of the different categories of members of the collective management organisation in the body exercising the supervisory function;
(b)each person exercising the supervisory function makes an annual individual statement to the general assembly of members on conflicts of interest, containing the information referred in paragraph (3) of regulation 9 (management);
(c)the body exercising the supervisory function meets regularly and has at least the following powers—
(i)to exercise the powers delegated to it by the general assembly of members, including the delegation of functions referred to in paragraph (2) of regulation 7 (general assembly of members); and
(ii)to monitor the activities and the performance of the duties of persons referred to in regulation 9, including the implementation of the decisions of the general assembly of members and, in particular, of the general policies referred to in paragraph (1)(d)(i) to (iv) of regulation 7 (general assembly of members);
and
(d)the body exercising the supervisory function reports on the exercise of its powers to the general assembly of members at least once a year.