TasRail operates to a Corporate Governance System that is consistent with the eight principles of Good Corporate Governance, published by the ASX Corporate Governance Council.
- Lay solid foundations for management and oversight.
- Structure the Board to add value.
- Promote ethical and responsible decision making.
- Safeguard integrity in financial reporting.
- Make timely and balanced disclosures.
- Respect the rights of Shareholders.
- Recognise and manage risk.
- Remunerate fairly and responsibly.
Corporate Governance Principle Adopted by TasRail In addition to the above Corporate Governance Principles: TasRail complies with the Department of Treasury and Finance Governance Framework and Guidelines in relation to:
- Board appointments
- Director induction, education and training
- Assessing Board performance.
- TasRail complies with its obligations pursuant to the following Key Governance Documents:
- Corporations Act 2001
- Rail Company Act 2009
- Shareholder Members’ Letter of Expectations
- Treasurer’s Instructions
- Guidelines for Tasmanian Government Businesses
- Tasmanian Railway Pty Limited Directors’ Code of Conduct.
TasRail has two Shareholder Members:
- The Tasmanian Minister for Infrastructure, the Hon. David O’Byrne MP as the Portfolio Minister
- The Tasmanian Treasurer, the Hon. Lara Giddings MP.
The Company is managed by a Shareholder‑appointed Board of five Directors that meets monthly. The Chairman and Directors are independent Non‑Executive.