ANNUAL REPORT 09/10 - Forest and Wood Products Australia

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44 | CORPORATE GOVERNANCE Promotion, Services and Communication Committee Members: Kathryn Adams (Chair until 20 October 2009), Nick Roberts (Chair, 20 October 2009 – 30 June 2010), Jim Snelson, Mark Grey (20 October 2009 – 30 June 2010), Ric Sinclair. The key tasks of the Promotion, Services and Communication Committee are to: Approve investments as specifi ed within the Company Delegation Authority. Oversee the Capability, Adoption and Promotion program, including advising the Company on knowledge management and technology transfer from R&D activities; develop and implement the Company’s communication and technology transfer plans; and provide informed advice to the Board regarding the Company’s marketing, communication and technology transfer activities. Board meetings During the reporting period the Board held seven meetings. Details of attendance by individual Board members are provided below. DIRECTOR BOARD AUDIT & FINANCE R&D PROMOTION, SERVICES AND COMMUNICATION No. meetings attended FWPA ANNUAL REPORT 09/10 No. meetings eligible to attend No. meetings attended No. meetings eligible to attend No. meetings attended Mr Ron Adams 6 7 1 1 2 2 Mr Peter Zed* 2 2 1 1 No. meetings eligible to attend No. meetings attended Ms Kathryn Adams* 1 2 1 1 1 1 Mr Vince Erasmus 7 7 3 3 Dr Sadanandan Nambiar 7 7 3 3 Mr Nick Roberts 6 7 1 1 2 3 Mr Jim Snelson 5 7 3 3 3 3 Mr Ric Sinclair 7 7 2 3 3 3 Mr Evan Rolley 4 5 2 2 2 2 Mr Mark Grey 5 5 2 2 2 2 * Resigned with effect from 20 October 2009 Nature of operations The major activities of the FWPA during the fi nancial year comprised: Providing research and development to support the Australian forest and wood products industry; and Providing domestic marketing and promotion services to the Australian forest and wood products industry. There have been no signifi cant changes in the nature of these operations during the period. Results of operations The operating result for the fi nancial year to 30 June 2010 was an operating defi cit of $1,226,978. Rounding amounts FWPA is a Company of the kind specifi ed in the Australian Securities and Investments Commission class order 98/0100. In accordance with that class order, amounts in the fi nancial statements and the directors’ report have been rounded to the nearest dollar unless specifi cally stated to be otherwise. No. meetings eligible to attend
Significant events after the balance date There have been no events between the end of the fi nancial year and the date of this report, which in the opinion of the Directors are likely to affect signifi cantly the operations of the company, the results of those operations, or the state of affairs of the company in subsequent fi nancial years. Code of conduct The FWPA Code of Conduct requires the Board and all staff to promote high standards of ethics and integrity. The language, attitudes and actions of directors, senior management and staff must refl ect the principles of integrity and ethics, as well as the company’s values and culture. The Code of Conduct recognises that FWPA’s employees are vital to the fulfi lment of the Company’s purpose and, consequently, the highest level of staff satisfaction, health and safety must be maintained. It also encourages directors and staff to commit to the philosophy of continuous improvement at the corporate and individual levels. Conflict of interest and register of interests A Director must disclose an interest wherever he or she considers there is a potential confl ict of interest and a Declaration of Directors’ Interests is a standing agenda item for all Board meetings. This policy is consistent with Section 21 of the Corporations Act 2001. Risk management, fraud control and business recovery The company has risk management, business recovery, IP management and fraud control plans in place. Two internal audits were undertaken in line with the risk management plan. Environmental regulation and performance The Company is not subject to any particular or signifi cant environmental regulation. CORPORATE GOVERNANCE | 45 Indemnification and insurance of Directors and officers Appropriate insurance policies were maintained for the period to cover Directors and offi cers for professional indemnity; general liability; property loss, destruction or damage; increased cost of working/ business interruption; offi cial overseas travel and workers’ compensation. Auditor independence The auditors’ independence declaration in relation to the audit of the Company’s accounts for the fi nancial year 30 June 2010 is set out in the fi nancial report and forms part of the Directors’ report. Registered office and principal place of business Level 4, 10-16 Queen Street Melbourne Victoria 3000 Phone: (03) 9927 3200 Signed in accordance with a resolution of the Board of Directors. Ronald Adams Alaric Sinclair Director Director 24 August 2010 24 August 2010 FWPA ANNUAL REPORT 09/10
Page 1 and 2: ANNUAL REPORT 09/10
Page 3 and 4: CONTENTS HIGHLIGHTS 2 2009/10 Highl
Page 5 and 6: New brand for building specifiers W
Page 7 and 8: As always, I would like to thank my
Page 9 and 10: At the risk of a stating a cliché,
Page 11 and 12: Mr Grey has degrees in Asian Studie
Page 13 and 14: OUR MEMBERS A E Girle & Sons Allied
Page 15 and 16: 6 Investment In the forests and woo
Page 17 and 18: STRATEGY THREE: CAPACITY ADOPTION A
Page 19 and 20: Joint activities with other Researc
Page 21 and 22: WHY use wood Benefits environmental
Page 23 and 24: Tactical specifier advertising Duri
Page 25 and 26: Involving industry through Wood. Na
Page 27 and 28: Promoting the benefi ts of wood to
Page 29 and 30: R&D planning and investment priorit
Page 31 and 32: 10 Genetic improvement and delivery
Page 33 and 34: Advisory Group Members Engineered W
Page 35 and 36: Developing tools to increase the pr
Page 37 and 38: Investigating potential market oppo
Page 39 and 40: Column Beam Timber corbel Type 17 s
Page 41 and 42: The fi rst meeting of the Standards
Page 43 and 44: STRATEGY FOUR: PROVIDING INDUSTRY S
Page 45: DIRECTORS’ REPORT Directors Durin
Page 49 and 50: FINANCIAL REPORT | 47 STATEMENT OF
Page 51 and 52: STATEMENT OF CHANGES IN EQUITY for
Page 53 and 54: NOTES TO THE FINANCIAL STATEMENTS 3
Page 65 and 66: INDEPENDENT AUDIT REPORT Forest & W
Page 67 and 68: RESEARCH PROJECTS 2009/10 Investmen
Page 69 and 70: PROJECT DESCRIPTION FWPA INVESTMENT
Page 75: Published by: Forest & Wood Product

ANNUAL REPORT 09/10 - Forest and Wood Products Australia

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