Members' influence is embedded
in the cooperative structure.
Central Delegates Assembly
General Meeting
transparency, Rabobank Nederland cannot render account
to the local Rabobanks on its management and super
vision, nor can this be assessed. The local Rabobanks are
members of the Rabobank Nederland cooperative. This
membership entails rights and obligations. The influence
and control of the local Rabobanks are manifested through
their (direct or indirect) representation in two bodies:
the Central Delegates Assembly (CKV) and the General
Meeting. In addition, the local Rabobanks are Rabobank
Nederland shareholders.
As from 1 January 2007, the local Rabobanks are organised
geographically in 12 regions. The Boards of the Regional
Delegates Assemblies form the Central Delegates Assembly.
Through the representation of the local management and
supervisory bodies in the Regional Delegates Assemblies,
the members/clients of the local Rabobanks are represented
in the Central Delegates Assembly.
Consequently, the manner in which Rabobank Nederland
accounts for its policy to its members is more extensive
than the account rendered by a typical listed public company
to its shareholders. Because of the special relationship
between Rabobank Nederland and its members, the
Central Delegates Assembly enjoys very high attendance.
In order to operate effectively, the Central Delegates
Assembly has appointed committees, which are charged
with special duties. They are: the Committee on
Confidential Matters (advises on appointments in the
Supervisory Board, fixes the Supervisory Board's remuneration
and assesses the Supervisory Board's application of the
remuneration policy), the Central Delegates Assembly
Co-ordination Committee (draws up the agenda of the
Central Delegates Assembly and subjects items for the
agenda to formality compliance tests) and the Committee
on Urgent Matters (acts on behalf of the Central Delegates
Assembly in urgent cases).
The powers of the Central Delegates Assembly include the
establishment of rules that all local Rabobanks must comply
with. The Central Delegates Assembly also approves the
Strategic Framework, the annual plan and the budget of
the local Rabobanks. The outcome can influence Rabobank
Group's policy. Furthermore, the Central Delegates
Assembly has substantive discussions, which mainly concern
the business of the local Rabobanks. These discussions are
held not only as part of the Central Delegates Assembly's
specific duties and powers, but also with the aim of
encouraging commitment and consensus between the
local Rabobanks and Rabobank Nederland.
In order to maintain maximum effectiveness of the Central
Delegates Assembly, an internal committee was established
in the year under review whose task is to advise on the
Central Delegates Assembly's desired future size and com
position. This advice is expected in the beginning of 2007.
The General Meeting is the body through which all local
Rabobanks, as members of Rabobank Nederland, can
exercise direct control. The General Meeting deals with
important issues, such as the adoption of the financial
statements, granting discharge, amendments to the
64 Rabobank Group Annual Report 2006
