Company: TOP
Filing Date: 2025-08-13
Form Type: 20-F
Source: 0001213900-25-075728
Chunk: 48

Company: TOP Financial Group Ltd
Filing Date: 2025-08-13
Form: 20-F
Item: Item 6
Chunk 48
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 composition of the board with regards to characteristics such as independence, age, skills, experience and availability of service to us;  

  selecting and recommending to the board the names of directors to serve as members of the audit committee and the compensation committee, as well as of the nominating and corporate governance c...  

  monitoring compliance with our code of business conduct and ethics, including reviewing the adequacy and effectiveness of our procedures to ensure proper compliance.  

Investment Committee. Our Investment Committee consists of Mr. Ka Fai Yuen (the Chief Executive Officer and director), Ms. Yung Yung Lo (the Chief Financial
Officer), Ms. Jennifer Hoi Ling Tam (the Chief Operating Officer) and Mr. Mau Chung Ng (a director). The Investment Committee has the
powers and duties to decide on investment projects which each investment project does not exceed 20% of the Company’s total asset
(on a consolidated basis) and the total investment amount does not exceed 40% of the Company’s total asset (on a consolidated basis).

Duties of Directors

Under Cayman Islands
law, our directors owe fiduciary duties to us, including a duty of loyalty, a duty to act honestly, in good faith and with a view to our
best interests. Our directors must also exercise their powers only for a proper purpose. Our directors also owe to our company a duty
to act with skill and care. English and Commonwealth courts have moved towards an objective standard with regard to the required skill
and care and these authorities are likely to be followed in the Cayman Islands. In fulfilling their duty of care to us, our directors
must ensure compliance with our amended and restated memorandum and articles of association and the class rights vested thereunder in
the holders of the shares. A shareholder may in certain limited exceptional circumstances have the right to seek damages in our name if
a duty owed by our directors is breached.

Our board of directors
has all the powers necessary for managing, and for directing and supervising, our business affairs. The functions and powers of our board
of directors include, among others:

  convening shareholders’ annual general meetings and reporting its work to shareholders at such meetings;  

  declaring dividends and distributions;  

  appointing officers and determining the term of office of the officers;  

  exercising the borrowing powers of our company and mortgaging the property of our company; and  

  approving the transfer of shares in our company, including the registration of such shares in our share register