Company: GLXG
Filing Date: 2025-10-24
Form Type: 20-F
Source: 0001213900-25-102144
Chunk: 177

Company: Galaxy Payroll Group Ltd
Filing Date: 2025-10-24
Form: 20-F
Item: Item 6
Chunk 177
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 or arrangement is material,
has declared the nature of his or her interest at the earliest meeting of the board at which it is practicable for him or her to do so,
either specifically or by way of a general notice and (b) if such contract or arrangement is a transaction with a related party, such
transaction has been approved by the audit committee. The directors may exercise all the powers of the company to borrow money, mortgage
its undertaking, property and uncalled capital, and issue debentures or other securities whenever money is borrowed or as security for
any obligation of the company or of any third party.

Board
Diversity

We
seek to achieve board diversity through the consideration of a number of factors when selecting the candidates to our board, including,
but not limited to, gender, skills, age, professional experience, knowledge, cultural and education background, ethnicity, and length
of service. The ultimate decision of the appointment will be based on merit and the contribution that the selected candidates will bring
to our board.

Our
directors have a balanced mix of knowledge and skills. We will have three independent directors with different industry backgrounds,
representing a majority of the members of our board. Our board is well balanced and diversified in alignment with our business development
and strategy.

Committees
of the Board of Directors

We
have established an audit committee, a compensation committee, and a nominating and corporate governance committee under the board of
directors upon the effectiveness of the registration statement of which this report forms a part. We have adopted a charter for each
of the three committees upon the establishment of the committees. Each committee’s members and functions are described below.

Audit
Committee.

  appointing the independent                                                                                                           
  reviewing with the independent                                                                                                       
  discussing the annual                                                                                                                
  reviewing the adequacy                                                                                                               
  reviewing and approving                                                                                                              
  meeting separately and                                                                                                               
  monitoring compliance                                                                                                                

Compensation
Committee.

  reviewing and approving                                                                                                          
  approving and overseeing                                                                                                         
  reviewing and recommending                                                                                                       
  reviewing periodically                                                                                                           
  selecting compensation                                                                                                           
  reviewing programs or                                                                                                            

Nominating
and Corporate Governance Committee.

  identifying and recommending                                                                                                              
  reviewing annually with                                                                                                                   
  identifying and recommending                                                                                                              
  advising the board periodically                                                                                                           
  monitoring compliance                                                                                                                     

Foreign
Private Issuer Exemption

We
are a “foreign private issuer,” as defined by the SEC. As a result