and $95.0m respectively) in relation to the Nation
Building Rail Investment initiative announced in the
2010 Commonwealth Budget.
On 1 January 2013, ARTC asset maintenance
previously performed by Alliance Partners was
brought in house. By January 2013, the Group
welcomed approximately 180 new employees. It
symbolises a leap forward for ARTC as a full service
infrastructure owner.
ARTC’s dividend holiday for years prior to 2013/14 has
been confirmed and it is expected that in the 2013/14
financial year ARTC will declare and pay an interim
dividend to its Shareholder. A final dividend is expected
to be declared after 30 June 2014.
There were no other significant changes in the state of
affairs of the Group during the year.
SIGNIFICANT EVENTS AFTER THE
BALANCE DATE
There has not arisen in the interval between the end
of the financial year and the date of this report any
item, transaction or event of material and unusual
nature likely, in the opinion of the Directors of the
Group, to affect significantly the operations of the
Group, the results of those operations, or the state of
affairs of the Group, in future financial years.
LIKELY DEVELOPMENTS
AND EXPECTED RESULTS OF
OPERATIONS
Likely developments and the expected results
of operations of ARTC are contained in the Chief
Executive Officer’s and Chairman’s Report.
ENVIRONMENTAL REGULATION
ARTC holds licences from both the Environmental
Protection Authority of South Australia and the
Environmental Protection Authority of NSW. In
South Australia, the licence is held under Part 6 of
the Environmental Protection Act, 1993 to undertake
the activity of a “Railway System”. The licence is due
to expire on 31 January 2014 and an application for
renewal will be lodged at that time. In New South
Wales, the licence is held under Section 55 of the
Protection of the Environment Operations Act 1997
to undertake “Railway Activities”. The licence expires
on 5 September 2013 and an application for renewal
will be lodged prior to expiration. To date, ARTC
has complied with the requirements of both licence
agreements. Other than in South Australia and New
South Wales, ARTC is not required to be licensed.
ROUNDING OF AMOUNTS
The financial report is presented in Australian dollars
and all values are rounded to the nearest thousand
dollars ($’000) unless otherwise stated under the
option available to the Group under ASIC Class order
98/100. The Group is an entity to which the class
order applies.
INDEMNIFICATION OF OFFICERS
During the reporting period, ARTC had in place
insurance cover in respect of liabilities arising from the
performance of the Directors and Officers of the Group.
The disclosure of the premium paid under section
300(8) (b) of the Corporations Act is not shown as
the insurance contract between ARTC and the insurer
prohibits ARTC from disclosing such information.
No known liability has arisen under the insurance
contract as at the date of this report.
NON-AUDIT SERVICES
Non-audit services can be found in note 32 of the
Financial Statements.
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