Sheep CRC Ltd
The Sheep CRC Ltd (Sheep CRC) is a public company limited by guarantee. The Sheep CRC is a tax paying entity administered through a skills based Board of Directors who are accountable to a number of stakeholders, including the Australian Government through the Commonwealth Agreement, our past and present Participants through the respective Participants Agreements and our Members through the Constitution.
The roles, responsibilities, delegations and authorities of the Board, the respective Committees of the Board and of Management are defined in the Sheep CRC Corporate Governance Manual, which is the key corporate governance reference of the Company. A key component of the governance structure has been the establishment of three Board Committees, all of which are directed by their own Committee Charters/Terms of Reference. These Board Committees are the Finance and Compliance Committee, Remuneration Committee and Project Review and Research Committee (which is comprised of an independent chair and specialists in the areas of research and adoption).
The final component of the governance structure is the Nomination Committee whose representatives are elected by the Members in accordance with the CRC Constitution. The Nomination Committee has been established to identify suitable candidates for nomination and appointment as Directors.
The Sheep CRC's governance framework has been set up to ensure transparent accountability to all Stakeholders and is represented diagrammatically below.
Australian Innovation Company Ltd
ACN 610 827 800
At the 2015 AGM the Participants (members of Sheep CRC Ltd) granted approval for the establishment of an innovation company to operate under licence with Centre IP to deliver Sheep CRC and other sheep industry products and services.
This resulted in the Australian Innovation Company Ltd (AIC) being incorporated. The AIC is a company limited by guarantee and has only one member being Sheep CRC. It is a tax paying entity and administered by the same Board of Directors as the CRC.
This company will commence trading from the 1 July 2016 delivering genotyping services.