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RBS Group • Annual Report and Accounts 2006
Governance
Charitable contributions
In 2006 the contribution to the Group’s Community Investment
programmes increased to £58.6 million (2005 – £56.2 million).
The total amount given for charitable purposes by the company
and its subsidiary undertakings during the year ended
31 December 2006 was £25.4 million (2005 – £24.3 million).
Political donations
At the Annual General Meeting in 2006, shareholders gave
authority for the company to make political donations and incur
political expenditure up to a maximum aggregate sum of
£500,000 as a precautionary measure in light of the wide
definitions in The Political Parties, Elections and Referendums
Act 2000, for a period of four years. These authorities have not
been used.
No political donations were made during the year and it is not
proposed that the Group’s longstanding policy of not making
contributions to any political party be changed.
Policy and practice on payment of creditors
The Group is committed to maintaining a sound commercial
relationship with its suppliers. Consequently, it is the Group’s
policy to negotiate and agree terms and conditions with its
suppliers, which includes the giving of an undertaking to pay
suppliers within 30 days of receipt of a correctly prepared
invoice submitted in accordance with the terms of the contract
or such other payment period as may be agreed.
At 31 December 2006, the Group’s trade creditors represented
28 days (2005 – 27 days) of amounts invoiced by suppliers.
The company does not have any trade creditors.
Auditors
The auditors, Deloitte & Touche LLP, have indicated their
willingness to continue in office. A resolution to re-appoint
Deloitte & Touche LLP as the company’s auditor will be
proposed at the forthcoming Annual General Meeting.
By order of the Board.
Miller McLean
Secretary
28 February 2007
The Royal Bank of Scotland Group plc
is registered in Scotland No. 45551.
Shareholdings
As at 28 February 2007, the company had been notified of the following interests in its shares.
Number of shares % held Number of shares % held
Ordinary shares: 51⁄2% cumulative preference shares:
Legal & General Group plc 127,207,908 4.01 Commercial Union Assurance plc 91,429 22.86
Barclays PLC 126,836,868 4.01 Mr P. S. and Mrs J. Allen 86,999 21.75
The Capital Group of Companies, Inc 95,578,555 3.01 Bassett-Patrick Securities Limited* 46,255 11.56
11% cumulative preference shares: E M Behrens Charitable Trust 20,000 5.00
Guardian Royal Exchange Mrs Gina Wild 19,800 4.95
Assurance plc 129,830 25.97 Trustees of The Stephen Cockburn
Windsor Life Assurance Limited Pension Scheme 19,879 4.97
Company Limited 51,510 10.30 Miss Elizabeth Hill 16,124 4.03
Mr S. J. and Mrs J. A. Cockburn 30,810 6.16 Mr W. T. Hardison Jr. 13,532 3.38
Cleaning Tokens Limited 25,500 5.10 Ms C. L. Allen 13,200 3.30
Ms J. C. Allen 12,750 3.18
* Notification has been received on behalf of Mr A. W. R. Medlock and Mrs H. M. Medlock that they each have an interest in the
holding of 51⁄2% cumulative preference shares registered in the name of Bassett-Patrick Securities Limited noted above and that
there are further holdings of 5,300 and 5,000 shares, respectively, of that class registered in each of their names.