Review of Commonwealth Government Business Enterprises ...

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Partly Owned Subsidiaries of GBEs and Joint Ventures involving GBEs 5.2.1 Finance considers that the guidance in relation to Partly Owned GBEs, Partly Owned Subsidiaries of GBEs and Joint Ventures Involving GBEs provides an appropriate framework for the governance of subsidiaries, partly-owned GBEs and joint ventures within the parameters of the various legislative requirements. The minor changes proposed refect changes in legislation and legislative frameworks since the current GBE Guidelines were issued, and refect the desire to capture requirements for new GBE subsidiaries. 5.2.2 To strengthen the guidance on the establishment and management of partly owned subsidiaries of GBEs, Finance considers it appropriate to include some additional direction on the makeup of subsidiary boards. Proposed Change: (New) 5.8a. Where the GBE has any subsidiary it will ensure that control of the affairs of that subsidiary will be exercised by a majority of the directors of that subsidiary, who are directors or employees of the GBE or have been approved by the Shareholder Minister(s) for appointment as directors of that subsidiary. Exposure Draft
Appendix A: Commonwealth Government Business Enterprises Governance and Oversight Guidelines Exposure Draft 39
Page 1 and 2: Australian Government Department of
Page 3 and 4: Contents Introduction 2 Part 1 - Ov
Page 5 and 6: The key topics identifed for discus
Page 7 and 8: Part 1 - Overview 1.1 Mandate and O
Page 9 and 10: Proposed Change: (New) 3.3 2.3 a. A
Page 11 and 12: 2.3.4 These changes aim to make GBE
Page 13 and 14: . The Chair shall write to the Shar
Page 15 and 16: 2.5.4 A similar principle operates
Page 17 and 18: 2.6.4 These issues have also previo
Page 19 and 20: Part 3 - Planning and Reporting (Pr
Page 21 and 22: Table 2: Best Practice Timetable fo
Page 23 and 24: Proposed Change: (Replaces entire 2
Page 25 and 26: 3.3 Statement of Corporate Intent (
Page 27 and 28: 3.4.7 The focus on comparing budget
Page 29 and 30: 2.11b(i) 3.14 The current disclosur
Page 31 and 32: Proposed change: (New) 3.21 Proposa
Page 33 and 34: Part 4 - Financial Governance 4.1 C
Page 35 and 36: 4.2A Weighted Average Cost of Capit
Page 37 and 38: 4.3 Managing Risks 4.3.1 The govern
Page 39: Part 5 - Other Governance Matters 5
Page 43 and 44: Part 1 - Overview Defnition 1.1 A G
Page 45 and 46: 1.9 In addition to setting a princi
Page 47 and 48: 2.6 The code of conduct may cover t
Page 49 and 50: 2.17 On an annual basis the GBE boa
Page 51 and 52: Table 2: Best Practice Timetable fo
Page 53 and 54: Measure Key Performance indicator F
Page 55 and 56: d. commentary on any emerging issue
Page 57 and 58: 3.23 GBEs should allow a reasonable
Page 59 and 60: Financial Targets for GBEs 4.7 All
Page 61 and 62: Part 5 - Other Governance Matters W
Page 63: 5.10 The above requirements relatin
Page 66 and 67: Governance Arrangements for Commonw
Page 68 and 69: Principles Part 1 - Overview 1.1 Th
Page 70 and 71: (c) earn at least a commercial rate
Page 72 and 73: (e) The plan also covers any other
Page 74 and 75: Keeping Shareholder Ministers Infor
Page 76 and 77: Part 4 - Financial Governance Capit
Page 78 and 79: shareholder would expect the adopti
Page 80 and 81: Partly Owned GBEs, Partly Owned Sub
Page 82 and 83: Attachment A Matters for Inclusion

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