Review of the Registered Clubs Industry in NSW - Clubs NSW

9 Improving corporate governance
Box 9.2
Disclosure of information to members
The Registered Clubs Act requires that a club keep a register of information related to the
management and financial administration of the club, including:
a list of disclosures, declarations and returns made by the directors or employees (eg
material personal interests in contracts)
the number of top executives whose remuneration falls within each successive $10,000
band, starting at $100,000
details of loans made by the club to any employee in excess of $1,000
details of certain contracts executed by the club (eg, contracts in which directors have a
pecuniary interest)
the name and remuneration of any employee who is a close relative of a director or top
executive
details of legal settlements made by the club with a director or employee
details of legal fees paid by the club on behalf of a director or employee.
Members may view the register by written request to the club. 145
IPART considers that the Registered Clubs Act’s strong focus on accountability,
transparency and probity is appropriate. It notes that stakeholders’ main concerns
about the existing corporate governance framework – including the high cost of
compliance with the Registered Clubs Act due largely to the inclusion of some
unnecessary provisions – have been addressed by the amendments to the Act that
came into effect in late 2007.
9.3 Recommendations for improving corporate governance
IPART considers that a range of initiatives for improving clubs’ corporate
governance should be implemented, including initiatives focused on:
improving the skills of directors, by requiring them to undertake core training
modules within 12 months of being elected, and encouraging the use of
performance assessments to identify areas where boards and individual directors
need to improve
addressing difficulties in electing appropriately skilled directors, by encouraging
clubs to remove constitutional restrictions and permitting board-appointed
directors in limited circumstances
addressing difficulties in attracting directors, by encouraging clubs to undertake
succession planning and make better use of board vacancies and committees to
recruit and train future directors
145 Clause 47HA(1)(d) Registered Clubs Regulation.
Review of the Registered Clubs Industry in NSW IPART 145