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NOTE 18
RELATED PARTY DISCLOSURES
(a) Ultimate controlling entity
ARTC is the ultimate Australian parent entity
within the Group and the ultimate controlling
entity of the Group is the Commonwealth
Government.
(b) Directors
A Director related entity includes any legal,
administrative or fiduciary arrangement,
organisational structure or other party,
including a person, having the capacity to
deploy equity instruments in order to achieve
objectives. The entity must be under joint
or overall control or significant influence of
a Director or his/her related parties.
Other than those listed below, there were no
other related party transactions with Directors
at year end (2015: $ nil).
ARTC Chairman, Dr Helen Nugent was a
Director of Origin Energy Ltd during the
financial year. ARTC has a commercial
relationship with Origin Energy Ltd as an
Access Holder in the Hunter Valley. As a
Non-Executive Director, she had no direct
involvement in the negotiation of the Access
Holder Agreement with ARTC (2015: nil).
ARTC Director, Mr Chris Barlow was a
Director of Asciano Ltd during the financial
year, a freight logistics company that the
Group has a commercial relationship with.
As a Non-Executive Director he had no
direct involvement with the Group’s dealings
with Asciano Ltd, of which Pacific National
is a subsidiary company. The Group deals
with Asciano Ltd under normal commercial
terms and conditions. Mr Barlow received
no information nor did he participate in any
discussions relating to Asciano or any of its
competitors (2015: nil). Mr Barlow retired
from Asciano on 19 August 2016.
ARTC Director, Mr Lucio Di Bartolomeo
was a Director and Chairman of Macquarie
Generation during the financial year. ARTC
has a commercial relationship with Macquarie
Generation as an Access Holder in the Hunter
Valley. As a Non-Executive Director, he had
no direct involvement in the negotiation of the
Access Holder Agreement with ARTC (2015: nil).
There were no loans to Directors at year end
(2015: nil).
Both the Interstate and Hunter Valley business units were affected by protected industrial action
during August 2016. Unions issued notices of action as part of negotiations underway for the NSW
Enterprise Agreement which covers 528 staff in NSW. The action took the form of work bans and
most significantly a series of 24 hour stoppages which caused major disruption to ARTC passenger,
coal and freight operator customers. The Agreement was put to a vote of employees in mid-August
2016 and a majority of employees voted to approve the Agreement. The protected industrial action
ceased after this vote. At the time of signing, the Agreement has been lodged at the Fair Work
Commission for certification under the Fair Work Act.
No other events have occurred after the balance sheet date that should be brought to account
or disclosed in the year ended 30 June 2016 financial statements.
NOTE 19
SIGNIFICANT EVENTS AFTER THE BALANCE DATE
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