With effect from the financial year commencing 1 April 2011, National Grid is subject to the UK Corporate Governance Code (the Code).  The Code sets out principles and provisions relating to the good governance of listed companies.

The Code replaces the Combined Code on Corporate Governance under which the Board considered it complied in full during 2010/11. 

Key documents associated with Corporate Governance are available in this section.

• Davies Review 'Women on boards'
• Articles of Association
• Matters Reserved for the Board 
• Board Committees - Terms of Reference
• Code of Ethics for Senior Finance Professionals
• Management Philosophy
• Our Policies
• Public Position Statements
• Other Governance Documents

National Grid's corporate governance practices substantially conform to those required of US companies listed on the NYSE. The principal differences between the Company’s governance practices pursuant to the Combined Code and UK best practice and the Section 303A Corporate Governance Rules of the NYSE are:

• different tests of independence for Board members are applied under the Combined Code and Section 303A;
• there is no requirement for a separate corporate governance committee in the UK; all Directors on the Board discuss and decide upon governance issues and the Nominations Committee makes recommendations to the Board with regard to certain of the responsibilities of a corporate governance committee; and
• while the Company reports compliance with the Combined Code in each Annual Report and Accounts, there is no requirement to adopt and disclose separate corporate governance guidelines.