Which of the following is NOT a purpose of the Corporate Governance Code?

The purpose of the Corporate Governance Code includes various objectives aimed at promoting effective governance practices within a corporation. One of the important purposes is enhancing stakeholder engagement, which ensures that all parties with an interest in the company—such as employees, customers, suppliers, and the community—are taken into account in decision-making processes. Encouraging ethical corporate behavior is another key aspect; this involves fostering integrity and responsibility among the company's directors and management, ultimately leading to trust and sustainability.

Additionally, ensuring accountability in corporate governance is crucial. This means that the company’s board and management should be answerable to its shareholders and stakeholders for their actions and decisions, promoting transparency and reducing the risk of misconduct or mismanagement.

In contrast, increasing shareholder control over operations is not a primary objective outlined in the Corporate Governance Code. While shareholders have rights and can influence certain decisions, the Code aims to balance the interests of various stakeholders and promote the long-term health of the corporation rather than solely concentrating on providing increased control to shareholders over day-to-day operations. This balance is critical to ensure that companies operate in a way that is beneficial to a broader range of interests.