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
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 Promote ethical and responsible
decision making
Governance Policies
4 Safeguard integrity in financial reporting Accountability and Audit,
Board Committees
5 Make timely and balanced disclosure
Our Shareholder
6 Respect the rights of security holders
Our 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 publication of
formal delegations and a schedule
of matters reserved to the Board.
This enables the Board to provide
strategic guidance for the Group and
effective oversight of Management. It
also clarifies the respective roles and
responsibilities of Board members and
senior executives in order to facilitate
Board and Management accountability
to both the Group and its shareholder.
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