2009 Annual Report - Cerebral Palsy Alliance

Directors’ Report (continued)Events Subsequent toBalance DateThere has not arisen in the intervalbetween the end of the financial yearand the date of this report any item,transaction or event of a material andunusual nature likely, in the opinionof the directors of the Company, toaffect significantly the operations ofthe consolidated entity, the resultsof those operations, or the state ofaffairs of the consolidated entity, infuture financial years.DividendsThe Company and its controlledentities are prohibited by theirConstitutions from paying dividends.Likely DevelopmentsThe Directors do not believe itlikely that there will be any materialchanges in the operations of theconsolidated entity for the next12 months.Authority to FundraiseThe Spastic Centre of New SouthWales has been granted authorityto raise funds in NSW underthe provisions of the CharitableFundraising Act 1991.The Spastic Centre has also beengranted authority to raise funds inthe ACT under the provisions of theCharitable Collections Act 2003.Tax Deductibility of DonationsThe Spastic Centre and its controlledentities are deductible gift recipientsas defined in the Income TaxAssessment Act. Donations of$2.00 or more are tax deductible inAustralia.Directors’ BenefitsThe remuneration of directors isdisclosed in Note 21 in the FinancialStatements. One Director, Mr J.Morgan, received remunerationin his capacity as an employee ofthe Company. Since the end of theprevious financial year, no otherdirector received or became entitledto receive remuneration.The board members of The SpasticCentre provide their time andexpertise on an entirely voluntarybasis and receive no fees, salaries orbenefits for the work they undertakeon behalf of the board.Indemnification and Insurance ofDirectors and OfficersSince the end of the previousfinancial year, the Company hasnot indemnified or made a relevantagreement for indemnifying againsta liability of any person who is orhas been an officer or auditor of theCompany.Since the end of the previousfinancial year, the Company has paidpremiums in respect of directors’ andofficers’ liability and legal expenses’insurance contracts. Such insurancecontracts insure against certainliability (subject to specific exclusions)for persons who are or have beendirectors or executive officers of theCompany.The directors have not includeddetails of the nature of the liabilitiescovered nor the amount of thepremium paid in respect of thedirectors’ and officers’ liability andlegal expenses’ insurance contracts,as such disclosure is prohibited underthe terms of the contract.Rounding of amountsThe Company is an entity to whichASIC Class Order 98/100 appliesand, accordingly, amounts in thefinancial statements and Directors’Report have been rounded to thenearest thousand dollars, unlessotherwise stated.Lead Auditor’s IndependenceDeclarationThe Lead Auditor’s IndependenceDeclaration is set out on page 23 andforms part of the Directors’ Reportfor the financial year ended 30 June2009.MembersAs at 30 June 2009 there were 431members (2008: 479 members) ofthe Company.The Directors’ Report was authorisedfor issue by the directors dated atSydney this 16 September 2009.M. A. Thornton, AMDirectorM. B. Bryant, OAMDirector22 | The Spastic Centre ● 2009 Annual Report