Related Party Transactions Policy
1) Related Party Transactions
(a) Company
| Related Party Transactions | Policies and Procedures |
| (1) Parent Company | Ensure that transactions are entered into on terms comparable to those available from unrelated third parties. |
| (2) Joint Ventures | Ensure that transactions are entered into on terms comparable to those available from unrelated third parties. These are in the nature of cash advances made to landowners for pre-development expenses. Repayment in full is made upon completion of the project. |
| (3) Subsidiaries | Ensure that transactions are entered into on terms comparable to those available from unrelated third parties. |
| (4) Entities Under Common Control | Ensure that transactions are entered into on terms comparable to those available from unrelated third parties. |
| (5) Substantial Stockholders | Ensure that transactions are entered into on terms comparable to those available from unrelated third parties. |
| (6) Officers including spouse/children/siblings/parents | Ensure that transactions are entered into on terms comparable to those available from unrelated third parties. Disclosure of relationship or association is required to be made before entering into a transaction. Officers shall have no participation in the approval of the transaction. |
| (7) Directors including spouse/children/siblings/parents | Ensure that transactions are entered into on terms comparable to those available from unrelated third parties. Disclosure of relationship or association is required to be made before entering into transaction. A Director, who has an interest in the transaction, shall have no participation in the approval of the transaction. |
| (8) Interlocking director relationship of Board of Directors | Ensure that transactions are entered into on terms comparable to those available from unrelated third parties. Disclosure of relationship or association is required to be made before entering into a transaction. No participation on the part of an interested director shall be allowed in the approval of the transaction. |
