Member

The framework document is not legally binding and does not supersede company law, under which Great British Energy will operate, but it is a very important governance document. Both parties—Great British Energy and the Secretary of State—agree to operate within its terms. The framework document typically contains the following. As I have already said, the purpose of the document sets out the broad governance framework within which Great British Energy and the department will operate. This includes, as I have said, the responsibilities of the responsible Minister, the principal accounting officer, the accounting officer—who is usually the chief executive office of the company—and the board. It will detail the reporting requirements and information-sharing arrangements that will be in place between my department and Great British Energy. This will include requirements to share corporate and business plans and compliance with audits. It will set out expectations for how Great British Energy will manage its audit, risk management, procurement and a host of other corporate responsibilities to ensure alignment with the requirements for public bodies. It will also include detail about the organisation’s purpose and strategic aims. Copies of the documents and any subsequent amendments will be placed in the Libraries of both Houses of Parliament and available to the public.