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Corporate Governance Framework
The Port of Townsville Limited (the Corporation) is a Queensland Company Government Owned Corporation (GOC) established in its current form on 1 July 2008 under the Government Owned Corporations Act 1993 (Qld) (as amended by the Government Owned Corporations Amendment Act 2007 (Qld)).
There are a number of statutes that the Corporation is required to comply with, however the following set the core legislative framework in which the Corporation operates: -
- Government Owned Corporations Act 1993 (Qld) and Regulations;
- Transport Infrastructure Act 1994 (Qld) and Regulations;
- Financial Accountability Act 2009 (Qld) and Regulations;
- Financial and Performance Management Standard 2009 (Qld); and
- Corporations Act 2001 (Cth).
Corporatisation was undertaken so that the Corporation could operate, as far as practicable, on a commercial basis and in a competitive environment while providing for continued public ownership. The Corporation’s governance structure is shown below:
 POT-Governance_Structure_Flowchart.pdf (January 2010)
A brief background of Board members is attached below:
POT-Board_of_Directors.pdf (October 2009)
Corporate Governance Statement
The Port of Townsville and its Board takes its responsibility to pursue efficient, effective and accountable port management very seriously. We are committed to achieving and demonstrating the highest standard of corporate governance.
Good corporate governance assists the Port of Townsville to achieve its outcomes and obligations through sound planning and risk management. It assists in decision making and improves accountability. Further, it provides a framework for establishing responsibilities the port has to its various stakeholders.
We aspire to best practice levels of corporate governance, and have in place a Corporate Governance framework to assist in achieving this goal.
POT-Corporate_Governance_Statement (June 2009)
Duties and Responsibilities
The Port's Corporate Governance Manual and the Employee Code of Conduct clearly set out expectations of Directors, the Chief Executive Officer, Executives and employees in relation to duties and responsibilities.
POT-Corporate_Governance_Manual.pdf (September 2009)
POT-Code_of_Conduct.pdf (December 2009)
Company Constitution
The Port of Townsville Limited Constitution supports the Corporation’s Corporate Governance framework by setting out the objects of the Corporation, the powers of the Board and responsibilities of Directors, the Chief Executive Officer and Senior Executives.
POT-Constitution.pdf (July 2009)
Board Sub-Committees
The Board of Directors has established the following Sub-Committees:
- Human Resource and Workplace Health and Safety Committee;
- Finance, Audit and Risk Management (FARM) Committee;
- Business Development, Project Management, Planning and Environment Committee; and
- Major Projects Committee Charter
Functions of the Board have been delegated to these Sub-Committees in accordance with the Committee Charters.
Delegations of Authority
The Board has also made delegations of authority which are set out in the Corporation’s Authorities and Delegations Policy. To obtain details on the Corporation’s delegations of authority please contact the Corporation’s Governance and Legal Advisor on (07) 4781 1531.
Disclosure of Interests and Trading in Securities
It is the policy of the Port that Directors, the Chief Executive Officer, Executives, Managers and employees avoid ethical, legal, financial or other conflicts of interest, and ensure that their activities and interests do not conflict with their obligations to the port or its welfare.
The Port is committed to ensuring that all interests and any actual or perceived conflicts of interest are appropriately disclosed, recorded and managed.
The Port has arrangements in place to identify, disclose and manage all interests and conflicts of interest affecting the organisation.
POT-Disclosure_of_Interests_Policy (July 2009)
POT-Insider_Trading_Policy (July 2009)
Fraud and Corruption Control
The Port, its Board, Executives and employees are required to adhere to comparable levels of transparency and accountability expected in public sector agencies. The Port's Board is committed to ensuring that the Port of Townsville is free from any fraudulent or corruptive behaviour, which will not be tolerated in any form or degree, and has established systems and processes to prevent, detect, control and manage fraud and corruption. For more information on these systems and processes, please see our Fraud and Corruption Control Policy below.
If you suspect any incident of fraud and/or corruption, you can report it using the form below. Guidance on making reports is included in the guidelines.
Corporate Registers
The Corporation maintains the following registers in accordance with the Corporations Act 2001 (Cth):
- Register of Members
- Register of Charges
These registers are available for public inspection at the Corporation’s principal place of business. For further information regarding these registers please contact the Corporation’s Governance and Legal Advisor on (07) 4781 1531.
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