GMHBA AnnuAL RepoRt 2010 - GMHBA Health Insurance

GMHBA Limited ABN 98 004 417 092
GMHBA Limited ABN 98 004 417 092
Directors’ Report
The Directors submit their report on the financial statements of GMHBA Limited (Company) for the
year ended 30 June 2010, made out in accordance with a resolution of the Directors.
Directors
The Directors of the Company at the date of this report are:
Michael Joseph Dowling
John Charles Catford
Russell Henry Elliott
Kenneth Edward Jarvis
Gerald Miller
Sue Renkin
James Edmund Walsh
The qualifications, expertise and special responsibilities of Directors are set out on page 19 of the
financial report.
Principal Activities
The principal activity of the Company for the financial year ended 30 June 2010 was the provision
of benefits against claims by Fund members relating to hospital, dental and paramedical services.
The Company, being not for profit, does not earn taxable income and is therefore not subject to
income taxation. Refer Note 1(u). The profit for the year was $5.850million (2009: $7.960million).
Review of Operations
A review of the operations and results of the Company during the financial year are set out in the
Chairman’s Report on page 6.
Significant Changes in the State of Affairs
There were no significant changes in the state of affairs of the Company.
Matters Subsequent to the End of the Financial Year
There were no post-balance date events of any significance affecting or which may affect:
(a) the operations of the Company;
(b) the results of these operations; or
(c) the state affairs of the Company in financial years subsequent to this financial year.
Environmental Regulations
The Company is not subject to any significant environmental regulation.
Information on Directors
All Directors are Fund members of the Company. No Director has received any benefit since the
end of the previous financial year, by reason of any contract with the Company or with a firm of
which he or she is a member or with a company in which the Director has a substantial interest,
with the exception of the Director benefits that may be deemed to have arisen in relation to the
following transactions entered into in the ordinary course of business:
- As Fund members of the health fund conducted by the Company.
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