CQUniversity Annual Report - Central Queensland University

58OUR CORPORATE GOVERNANCEREPORTING TO THE SHAREHOLDERCMS provides a written report to each University Council meeting inaccordance with the requirements of the Shareholder. In addition, theChief Executive Offi cer and the Chief Financial Offi cer attend at leastone Council meeting per annum to present the CMS Five-Year StrategicDirection and associated plans.OTHER BODIES (NOTCONTROLLED ENTITIES)HORTICAL PTY LTDThis venture was initiated as a joint venture between CQUniversity andColour Vision Systems (CVS) to commercialise their respective interests innon-invasive fruit sorting technology. To this end, CQUniversity and CVSgranted HortiCal a licence on the intellectual property relating to the useof near infrared spectroscopy. HortiCal’s business is to support researchand development and to commercialise the intellectual property it holds.RAIL INNOVATION AUSTRALIA PTY LTDThis company was established to hold the intellectual propertygenerated by the previous co-operative research centre, the CRC forRailway Engineering and Technologies, which closed in 2007.OUR COMMITTEE STRUCTUREAS AT 31 DECEMBER 2012CouncilVice-Chancellor andPresidentChancellor’s CommitteeVice-Chancellor’sAdvisory CommitteeAcademic BoardAudit, Compliance andRisk CommitteeAppeals CommitteeCeremonial and HonoraryAwards CommitteeEducation Committee eof Academic BoardPlanning and ResourcesCommitteeExecutive Committee eof Academic BoardResearch Committee eof Academic BoardResearch HigherDegrees Committee