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Introduction Purpose and use of the code Egg's values Egg business Egg People Egg customers Egg partners and suppliers Egg in the community Egg and the environment Compliance with this code of business ethics		Introduction  Egg believes that how we behave as a business will determine our success in winning and retaining the confidence of the public as well as maintaining our reputation among our stakeholders. We have therefore made a number of commitments to each of our different stakeholders - our parent company, our customers, our people, the communities where we work and our partners and suppliers. This document brings together these commitments in a code of business ethics that all Egg People have a responsibility to uphold. I want to assure you that any Egg People who make a decision based on this code will have our support. This code of business ethics has the full support of the Egg Board and will be reviewed every three years to ensure it reflects corporate best practice, the changing regulatory environment and Egg's strategy. Bert Pijls Chief Executive June 2008 BACK TO TOP Purpose and use of the code  This code describes the values we uphold, the commitments we make to our stakeholders and the principles that govern how we do business. It is supported by and implemented through a range of policies, guidance and practices, details of which can be found on the company intranet. All Egg People are expected to conform to this code of business ethics, the requirements of the company's policies and the laws and regulations that govern our business. This code also applies to persons acting on behalf of Egg, in all locations. All senior Egg People have a special responsibility to set an example in the way they act. All people managers are responsible for seeing that their teams adhere to this code. This will be monitored by our Internal Audit team who will report to the Board's Audit Committee annually. This code was produced with the support of Egg People Forum. BACK TO TOP Egg's values  Our core values at Egg are honesty, integrity and respect for people. We aspire to be simple, transparent, mutually beneficial, empathetic, liberating and fresh and modern. These values are very important to us and are right at the heart of everything we do. We treat our customers fairly and as we'd like to be treated ourselves. They are the reason we exist and we constantly look to offer them the products and services that put them in control of their money. We endeavour to supply the information our customers might need about our products and services, clearly and simply to allow them to make a considered and informed choice. We respect our people's individuality and diversity, encouraging them to develop their careers by contributing to business performance. We work co-operatively with our suppliers and business partners, choose those who share our values and strive for mutual trust and benefit. We behave as good neighbours in our local communities and as a responsible citizen of society. We respect, protect and, where possible, enhance the quality of the environment. We will: Strive to deliver long-term value. Be transparent and open in our financial reporting. Provide full, fair and accurate information. Maintain a high standard of corporate governance. Conform to the Combined Code of the Financial Reporting Council and other recognised guidelines. BACK TO TOP Egg business  Our success at generating and sharing wealth with all our stakeholders depends on the maintenance of our reputation for honesty, integrity and respect for people. We will: Respect the spirit and letter of the law. Meet all relevant regulatory requirements and maintain a constructive and open relationship with regulators to foster mutual trust, respect and understanding. Maintain high standards of personal integrity, confidentiality and ethical behaviour. Compete vigorously but honestly. Neither participate in party politics, nor make political donations nor seek to influence Government improperly. Where possible, work towards preserving and improving the areas and environments which surround us and our offices. BACK TO TOP Egg People  Egg People will be treated by us with respect, dignity and compassion at all times. We recruit and promote on suitability and merit alone, respecting our people's individuality and diversity. We will: Explain our values and the standards we require. Set appropriate objectives so that people are clear on the performance required to meet our business goals. Recognise and reward individual and team performance. Value diversity and not tolerate discrimination or harassment at the workplace. Ensure a safe and healthy workplace. Provide the necessary encouragement and opportunity to develop careers. Involve our employees, consulting them and their representatives. Invest in our people. Encourage and support employees who report business malpractice or infringement of our code. Prohibit the illegal use of drugs or abuse of alcohol on our premises. We will endeavour to support employees with dependency problems. Require disclosure of all potential and actual conflicts of interest. BACK TO TOP Egg customers  Our customers are the reason we exist and we will always do all we can to treat them fairly in everything we do. We will protect the security of their money, help put them in a position to take control of their finances and strive to make their banking experience more enjoyable. We will: Offer products and services that are transparent, simple to understand and ease the job of managing money. Ensure that information is appropriate to our customers to allow them to make an informed choice about their personal finances and the products they buy from us. Constantly look for new and better ways to simplify personal finance as well as provide good value. Respect the privacy of personal information. Make sure that our marketing and advertising are clear, fair and not misleading. Act quickly and fairly in response to complaints and co-operate with the Financial Ombudsman Scheme. Respond sympathetically and positively to all cases of financial difficulty and when asked, work with debt counselling organisations. Strive to get the best possible outcomes from our partners and suppliers. BACK TO TOP Egg partners and suppliers  We aim to develop long-term, sustainable relationships with our partners and suppliers. We will: Strive to maintain a high standard of integrity in all our dealings with partners and suppliers. Pay our suppliers in accordance with agreed terms. Not accept gifts of money. Accept and give reasonable tokens and hospitality provided no obligation is incurred which would distort business judgement. Keep relations between our partners and suppliers and the company confidential in accordance with our contractual obligations. Expect that our partners and suppliers will demonstrate a high level of ethical business conduct and prohibit the use of child labour in any of their operations. BACK TO TOP Egg in the community  We strive to be a responsible corporate citizen and supportive neighbours in the communities where we operate. We are willing to get involved in relevant causes and campaigns to help improve people's lives. We will: Conduct ourselves in ways that bring benefits, beyond jobs, to those communities where we operate. Listen and respond positively to any concerns of people who may be affected by our operations in their local community. Focus our community involvement on issues where we have a special ability to help, aiming to develop long-term mutually beneficial relationships. Support the voluntary endeavours of our people, consulting them and our local communities about issues of concern. Make meaningful contributions to the community in cash, time and in kind, managing and measuring that investment to bring mutual benefit to the community as well as our business. BACK TO TOP Egg and the environment  We are committed to contribute to a sustainable future by protecting the natural environment. We will: Identify and review annually environmental objectives, setting targets to achieve these. Respect the standards set by law and, if possible, exceed them. Communicate our environmental objectives to our stakeholders and report on our performance. Measure, monitor and continuously review our key environmental impacts. Reduce, re-use or recycle as many of the materials we use as possible and minimise waste. Encourage suppliers to minimise their environmental impact through our procurement policies and practices. Include environmental considerations in investment decision making. BACK TO TOP Compliance with this code of business ethics  Our commitment to this code of business ethics is fundamental to our business success. This is demonstrated by our systems of training, communication, monitoring and enforcement. We will explain to all Egg People our values and the standards required under this code. All Egg People have an obligation to report infringements of this code, following the procedure laid out in Egg's Open Disclosure policy. BACK TO TOP