Corporate Governance
The business of TC PipeLines, LP (the "Partnership") is managed by or under the direction of the Board of Directors of TC PipeLines GP, Inc. (the "General Partner" or the "Corporation"), an indirect wholly-owned subsidiary of TransCanda Corporation. Directors exercise their business judgment to act in what they reasonably believe to be in the best interest of the Partnership and in a manner consistent with the Partnership Agreement of the Partnership.
The General Partner manages the business and affairs of the Partnership. The board of directors of the General Partner currently consists of seven individuals, three of whom are independent. The board approves all material transactions and agreements of the Partnership.
The General Partner has an Audit Committee. The Audit Committee's purpose is to oversee the audit of the Partnership's financial statements as well as the Partnership's accounting and financial reporting procedures.
The Insider Trading Policy of TransCanada Corporation applies to all directors, officers, employees and all contract workers, independent consultants and professional advisors of TransCanada Corporation and its wholly-owned subsidiaries and operated entities in Canada, the United States and Mexico including the General Partner and the Partnership.