BWP TRUST ANNUAL REPORT 2015
26
INDEPENDENT PROFESSIONAL
ADVICE
Subject to prior approval of the Chairman, directors may obtain
independent professional advice at the expense of the responsible
entity on matters arising in the course of their Board duties.
BOARD MEETINGS
As provided for in the Trust’s compliance plan, the Board holds
at least six scheduled meetings each year, although additional
meetings may be called as and when required.
During the year the Board held six meetings including two
interstate site tours.
Table 2: Directors’ meeting attendances
Board
Audit & Risk
Committee
Remuneration
& Nomination
Committee
Director
Held Attended Held Attended Held Attended
JA Austin
6
6
3
3
3
3
JK Atkins
6
6
3
3
3
3
E Fraunschiel
1
3
3
2
2
1
1
FE Harris
6
6
3
3
3
3
RD Higgins
6
6
3
3
3
3
AJ Howarth
6
5
3
2
3
2
MJG Steur
1
3
3
2
2
1
1
MJ Wedgwood 6
6
-
-
-
1
Joined 1 February 2015
TRADING IN UNITS
Trading in the Trust’s securities by directors, employees and
contractors of the responsible entity is restricted under the responsible
entity’s Securities Dealing Policy and applicable statutory regulations.
The policy is published on the Trust’s website.
REMUNERATION AND NOMINATION
COMMITTEE
The Board has a formally constituted Remuneration and
Nomination Committee.
The committee consists of all the non-executive directors and is
chaired by the Chairman of the Board.
The role of the Committee includes board succession planning, the
development and implementation of processes for evaluating the
performance of the Board and its committees and the process for
the recruitment of new directors.
A copy of the Remuneration and Nomination Committee Charter is
available on the Trust’s website.
During the year the committee held three meetings. A table showing
member attendance records has been included with this statement.
AUDIT AND RISK COMMITTEE
The compliance plan outlines the processes for reporting, audit
and risk management.
The Board has a formally constituted Audit and Risk Committee.
A copy of the Audit and Risk Committee Charter is available on the
Trust’s website.
The role of the committee is to assist the Board in the effective
discharge of its responsibilities relating to the Trust’s financial and
compliance reporting, risk management, internal controls and
external, internal and compliance audits.
The committee consists of all the non-executive directors and
is chaired by an external director, who is not the chairman of
the Board. The Committee Chairman has an audit and financial
services background and all other members have a sound
understanding of financial reporting matters.
During the year the committee held three meetings. A table
showing member attendance records has been included with
this statement.
Australind, WA
GOVERNANCE
