1

MOVEABLE PROPERTY POLICY

1.

Purpose
To describe the process for authorized removal of company
property.

2.

Key Accountability
Site Security Manager

3.

Application
This policy applies to all Smiths Interconnect property and assets,
including intellectual property. It should be used by all subordinate
entities regarding the management and security of moveable
property and asset control.

4.

Policy Statement
No company property may be removed from company premises or
designated storage places without the permission of a nominated
supervisor or manager.
Smiths Interconnect also values its intellectual property, including
designs, policies, business plans, and client and resident lists. The
theft of intellectual property is also regarded as a serious breach of
company policy and the law; any misuse or theft will be regarded
as a serious breach justifying dismissal.

7.

Procedures

7.1

Authorization
The executive management team members are the only employees
empowered to authorize the removal of company property.
Authorization should be issued in writing prior to the goods or
property being removed from a site using the Security Moveable
Property Form.

7.2

Responsibility for Loss or Damage

Where employees borrow company property or equipment for their
own personal use, and the goods are subsequently damaged or
lost, the employee shall be responsible for the repair or
replacement of the goods. This shall only be to the extent of any
shortfall in insurance payable for the loss or damage.

7.3

Unauthorized Removal of Company Property

Where the company has a substantial reason for believing an

employee has removed company property or is in possession of
company property without authorization, an investigation into the
matter will be conducted by the appropriate manager or supervisor.
If, after an investigation, it is found that an employee has removed
or misused company property without permission or has been found
in unauthorized possession of company property, the matter will be
referred to Human Resources for disciplinary action.