Corporate Responsibility

Confidentiality and Accuracy of Information

In the course of your duties for International Power you are likely to have access to confidential information (whether technical, commercial, financial, personnel or other) belonging to IPR and/or to third parties. In most cases, confidential information supplied by a third party will have been disclosed to IPR under a confidentiality agreement. You are required to keep confidential all such information and to comply with the terms of any confidentiality agreement under which the information has been provided to IPR, and not to make use of it except for the particular purpose for which it was made available to you. In particular, such confidential information must on no account be used for personal gain. All information given by you to IPR and IPR Personnel should be true and not misleading by omission, to the best of your knowledge. IPR personnel and IPR’s contractors must ensure they act so as not to jeopardise (a) the rights of staff and others under privacy legislation and (b) the responsibilities and restrictions which apply to IPR under data protection and other legislation.
IPR has a system of open management and communication. Therefore employees may become aware of confidential information. Trusting employees with this information creates a reciprocal obligation of the employees to use good judgement and act responsibly with it. All employees are accountable for their actions and inappropriate disclosure of confidential information to third parties can have serious consequences for IPR and the employee.
With respect to a more specific situation, IPR employees may from time to time have access to non-public (“inside”) information about publicly traded companies, particularly IPR. This knowledge makes such employees “insiders” for the purposes of securities laws. Securities laws provide for civil and criminal penalties for trading based on, or informing others with respect to such inside information. Accordingly, if such employees trade in, or inform others, with respect to the securities of a company based on inside information, in addition to being dismissed, they may be severely fined and/or jailed.
Due to the information which may become available to IPR Personnel during their work and due to the regulatory regime in which IPR’s securities are traded, strict rules apply to IPR Personnel and IPR releasing information to the public and for IPR Personnel dealing in the shares of IPR. IPR’s policy on the disclosure of information is contained in the IPR Policy on Handling of Price Sensitive Information. Details of the IPR code for share dealing is available from the Company Secretary.
If anyone has any questions about the foregoing in general or about a specific situation, they should ask one of IPR’s internal lawyers or the Company Secretary.

Back to the main Policies page