Composition of the Committee
The Company will have a Corporate Governance Committee established pursuant to a Charter approved by the Board with the following structure:
- The Chairman of the Company will be the Chairman of the Committee;
- The Committee will comprised of a minimum of two non-executive Directors and the Managing Director;
- The Company Secretary will be the Secretary of the Committee; and
- The Committee will meet annuallly or on as many occasions as may be necessary to effectively discharge its responsibilities.
Duties of the Committee
The Committee will review the range practices in place by the Company with a view to ensuring that as many of the recommendations issued by the ASX Corporate Governance Council as is practical. In doing so the Commitee will have regard for the size of the Company, the qualifications and skill sets of Directors and the nature of its operations.
If the Commitee elects not to adopt a recommendation it will record the reasons for not doing so.
The Committee will review any intended disclosure concerning Corporate Governance issues in the:
- Annual Report
- any prospectus
- the Company's website
and recommend it to the Board for approval.