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Page Description - this page includes information related to
Special Purpose Board Committees.
Special Purpose Committees:
- Special Purpose committees can result due to the specific nature of the
business or special circumstances that arise.
- Special circumstances normally give rise to temporary Special Purpose
committees to deal with the circumstance at hand, and then dissolve as the need
goes away. Examples of Special Purpose committees might be to: consider an
acquisition target, deal with a crisis situation, consider a merger, or assist
management in the development of a new strategy.
management in the development of a new strategy.
- Examples of specific nature
Special Purpose committees are the "Markets Committee" and the "System Planning
Committee" of the Midwest ISO.
- Markets Committee - from the Charter > "There shall be a committee of the
Board of Directors (“Board”) of the Midwest Independent Transmission System
Operator, Inc. (“Company”) known as the Markets Committee (“Committee”). This
Charter shall govern the Committee with regard to its duties and
responsibilities. Additional information about the composition of the committees
to the Board of Directors and Director independence may be found in the Midwest
ISO Principles of Corporate Governance. The goal of the Committee shall be to
promote markets in the Midwest that are efficient and transparent. The primary
function of the Markets Committee is to assist the Board in fulfilling its
oversight responsibilities by reviewing the activities in the markets operated
by the Company and the reports and other information provided by the Company or
its Independent Market Monitor to any governmental body or the public. The
Committee’s primary duties and responsibilities are as follows: To serve as an
independent and objective party to monitor the markets operated by the Company.
To review and appraise the monitoring efforts of the Company’s Independent
Market Monitor and internal market monitoring department. To provide an open
avenue of communication among the Independent Market Monitor, senior management,
and the Board." Permanent link -
http://www.EnergyCollection.us/Board-Charters/Special-Purpose/MISO-Markets-Committee.pdf
resources." Permanent link -
http://www.EnergyCollection.us/Board-Charters/Special-Purpose/MISO-System-Planning.pdf
Other Special Purpose Charters: