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CORPORATE
GOVERNANCE
STATEMENT
The ARTC Board currently comprises
seven members. The Board is chaired
by an Independent Non-Executive
Director and the roles of the Chairman
and Managing Director are separate.
The Managing Director is the only
Executive Director on the Board and
is also the Chief Executive Officer. All
of the other Directors are Independent
Non-Executive Directors.
ASX PRINCIPLES OF
GOOD CORPORATE
GOVERNANCE
ARTC’s system of corporate governance
reflects the eight principles enunciated
in the ASX “Corporate Governance
Principles and Recommendations”.
The following table indicates where
specific ASX Principles are dealt with
in this statement:
ASX Principle
Reference
1 Lay solid foundations for management
and oversight
The Board, Board Committees,
Accountability and Audit
2 Structure the Board to add value
The Board,
Board Committees
3 Act ethically and responsibly
Governance Policies
4 Safeguard integrity in financial reporting The Board, Accountability and Audit,
Board Committees
5 Make timely and balanced disclosure
Shareholder
6 Respect the rights of security holders
Shareholder
7 Recognise and manage risk
Accountability and Audit
8 Remunerate fairly and responsibly
Board Committees
THE BOARD
Board role and
responsibilities
ARTC recognises the respective roles
and responsibilities of the Board and
Management through its system of
formal delegations and a schedule of
matters reserved to the Board. This
enables the Board to provide strategic
guidance for the company and effective
oversight of Management. It also clarifies
the respective roles and responsibilities
of Board members and senior executives
to facilitate Board and Management
accountability to both the Group and its
shareholders.
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