Board sub-committees

The Finance & Compliance Committee

The Finance & Compliance Committee has been established by resolution of the Board to oversee the financial affairs of the Company and review and make recommendations to the Board about the financial affairs of the Company. This Committee shall be appointed by the Board from among the non-executive Directors of the Company and shall consist of three members of the Board. The CEO and CFO will be in attendance at each meeting to present the financial and compliance affairs of the Company.

This Committee shall considera any matters relating to the financial affairs of the Company and shall monitor, review, assess risks and provide recommendations to the Board in the following areas:

  • Financial affairs of the Company
  • Financial reporting
  • External audit
  • Compliance with legal and statutory requirements
  • Financial policies and procedures
  • Corporate governance and compliance with contractual obligations with Participants and/or Members, and the Commonwealth

 


Rumeration Committee

The Remuneration Committee has been established by resolution of the Board. This Committee shall be appointed by the Board from among the non-executive Directors of the Company and shall consist of not less than three members. The Remuneration Committee shall appoint an independent Director as the Chairman of the Committee and the Executive Assistant shall be the Secretary of the Remuneration Committee.

The duties of the Remuneration Committee are to:

  • Assist the Board in fulfilling its responsibilities in respect of establishing appropriate remuneration levels and policies including incentive policies for Directors and senior executives.
  • Assess the market to ensure that senior executives are being rewarded commensurate with their responsibilities.
  • Obtain the best possible advice in establishing salary levels.
  • Set policies for senior executives' remuneration.
  • Review the salary levels of senior executives.
  • Review recommendations from the CEO relating to proposed merit increases for direct reports.
  • Propose, for full Board approval, the terms and conditions of employment for the CEO.
  • Undertake a review, which will be reported to and confirmed by the full Board, of the CEO's performance, at least annually, including setting with the CEO KPIs for the coming year and reviewing progress in achieving those goals.
  • Review the Company's recruitment, retention and termination policies and procedures for senior management.
  • Review and  make recommendations to the Board on the Company's superannuation arrangements.
  • Review the remuneration of both executive and non-executive Directors and make recommendations to the Board on any proposed changes.

Project Review and Research Committee

The Board of Directors has established a Project Review and Research Committee to meet the requirements as set out in the Participants Agreement under Clauses 17.4 and 19.6. The Committee is authorised to seek information it deems necessary to fulfill its obligations and may request Project Participants to contribute to the Committee meetings to provide such information.

Objectives:

  • Provide advice to the CEO and Governing Board on potential projects and how current projects contribute to CRC Milestones, Outputs and Outcomes.
  • Provide assistance to the CEO and Governing Board in managing projects and reporting requirements under the Participants Agreement.
  • To review the achievement of Tasks and Milestones under the Operational Plan and monitor commitments to publish scientific papers by maintaining a list of papers in preparation through to journal acceptance.
  • To ensure that the achievement reported against Tasks is in accordance with committed project details, project budget, project objectives and up to an acceptable professional standard.
  • To make recommendations regarding the achievement of Tasks and Milestones with respect to payments  to Project creditors and invoicing to Project debtors.
  • Evaluate scientific quality resulting from CRC project activities and make recommendations to the CEO and Governing Board on the need for external peer review at key decision points for Projects and Programs.
  • Provide recommendations to the CEO and Board regarding -
    • requests for extension or changes to Task due dates;
    • removal of Tasks and creation of new Tasks; and
    • requests from Participants to change their contribution to a particular project.


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