9.1. The CEO is responsible for the daily operations of the Bank and has the authority to make decisions on all issues that are not assigned to others by legislation, the Articles of Association of the Bank and decisions of the Board of Directors. Daily operations do not extend to unusual or major arrangements. The CEO may make such arrangements only in accordance with a special authorisation from the Board of Directors of the Bank, unless it is impossible to await a decision from the Board without significantly inconveniencing the Bank. In such instances the Board shall be advised about the arrangement without delay. The CEO is responsible for ensuring that operations are conducted in accordance with legislation, the Articles of Association and the decisions of the Board of Directors of the Bank.
9.2. The CEO shall see to it that the company's books are entered in accordance with laws and customs and that the handling of the company's assets is performed in a secure manner.
9.3. At every meeting of the Board of Directors of the Bank the CEO shall give an account of the main aspects of the operations of the Bank and the manner in which the decisions and policies of the Board of Directors have been implemented. The Board of Directors may request special reports on operations if it deems it necessary.
9.4. The CEO is the spokesperson of the Bank on all operational and business issues.
9.5. The CEO is authorised to decide on the purchase and sale of financial instruments in the Bank’s trading book, in accordance with the risk and lending rules of the Board of Directors.
Landsbankinn hf. Austurstræti 11, 155 Reykjavík, Reg.no. 471008-0280
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