Summary

1. A Director must act honestly, in good faith and in the best interests of TransGrid as a whole.
2. A Director has a duty to use care and diligence in fulfilling the functions of office and exercising the powers attached to that office.
3. A Director must use the power of office for a proper purpose, in the best interest of TransGrid as a whole.
4. A Director must recognise that the primary responsibility is to TransGrid's Shareholders but should, where appropriate, have regard for the interests of all stakeholders.
5. A Director must not take improper advantage of the position of Director.
6. A Director must not allow personal interests, or the interests of any associated person, to conflict with the interests of TransGrid.
7. A Director has an obligation to be independent in judgement and actions and to take all reasonable steps to be satisfied as to the soundness of all decisions taken by the Board of Directors.
8. Confidential information received by a Director in the course of the exercise of directional duties remains the property of TransGrid and it is improper to disclose it, unless that disclosure has been authorised.
9. A Director should not engage in conduct likely to bring discredit upon TransGrid.
10. A Director has an obligation, at all times, to comply with the spirit, as well as the letter of the law and with the principles of this Code.