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Corporate Governance

At TasRail, Corporate Governance relates to the system by which the business is directed and managed, and much of its success is underpinned by strong and effective relationships between the Board and the Management Team, the Shareholder Members and other stakeholders.

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.

  1. Lay solid foundations for management and oversight.
  2. Structure the Board to add value.
  3. Promote ethical and responsible decision making.
  4. Safeguard integrity in financial reporting.
  5. Make timely and balanced disclosures.
  6. Respect the rights of Shareholders.
  7. Recognise and manage risk.
  8. 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:

  • ƒƒBoard appointments
  • ƒƒDirector induction, education and training
  • ƒƒAssessing Board performance.
  • TasRail complies with its obligations pursuant to the following Key Governance Documents:
  • ƒƒCorporations Act 2001
  • ƒƒRail Company Act 2009
  • ƒƒShareholder Members’ Letter of Expectations
  • ƒƒTreasurer’s Instructions
  • ƒƒGuidelines for Tasmanian Government Businesses
  • ƒƒTasmanian Railway Pty Limited Directors’ Code of Conduct.

TasRail has two Shareholder Members:

  • ƒƒThe Tasmanian Minister for Infrastructure, the Hon. David O’Byrne MP as the Portfolio Minister
  • ƒƒThe 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.