Board Committees

The Company’s Constitution provides that the Board establish a Standing Committee comprising an equal number of Directors elected by Members and Directors appointed by the Board (“Designated Committee”) charged with responsibility for formulating and making recommendations to the Board on business plans and the Annual Funding Figure. The Designated Committee may be charged with responsibility for other matters delegated by the Board.

The Board has established Committees as set out below and has approved a formal Charter for each Committee detailing their roles and responsibilities. Other committees may be established from time to time for specific purposes.

The Finance, Audit & Risk Committee is responsible for oversight of, and advice and recommendations to the Board of Directors on:

1. Financial Management - business plans, annual funding figure, budgets and target cash levels
2. Risk management – operational risks
3. Internal audit function.

The current Members of the Finance, Audit & Risk Committee are:

• Patrick Makinson, Chair
• David Coombe
• Nadia Moffatt, OAM
• Sue Chase, AM

Greg May, the Independent Chair of the Board, attends as an observer.

The Remuneration Committee reviews the Directors’ fees and the Ombudsman’s remuneration annually.

The current members of the Remuneration Committee are:

• Geoff Barton (Chair)
• Mark Henley
  
• Kay Matthias
• Anthony Sinclair

Greg May, the Independent Chair of the Board, attends as an observer.