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CORPORATE GOVERNANCE
The responsible entity is committed to fostering a strong governance culture using a
framework based on the ASX Corporate Governance Council’s Corporate Governance
Principles and Recommendations (“ASX Principles”).
Responsible Entity Board
BWPTRUST
External service providers
Internal service providers
Independent Assurance
>
External auditor
>
Scheme compliance auditor
>
Independent valuers
>
Independent experts
>
Environmental specialists
>
External project managers
>
Legal experts
Trust Constitution
Investment approach
Compliance Plan
Corporate Plan
AFS License
Risk Management
Charters, policies & procedures
Authorities framework
Remuneration &
Nomination Committee
Managing Director
Audit & Risk
Committee
COMMITMENT TO CORPORATE GOVERNANCE
The Board of the responsible entity is responsible for ensuring
a high standard of corporate governance and a culture of
compliance in relation to the Trust. The governance framework
is embedded in the Trust’s Compliance Plan and supported
by detailed charters, policies and procedures that ensure the
responsible entity fulfils its corporate governance obligations
and responsibilities in the best interests of the Trust and its
stakeholders.
The responsible entity’s corporate governance model is illustrated
below.
ASX PRINCIPLES AND EXTERNALLY MANAGED ENTITIES
The application of the ASX Principles is modified for externally
managed listed entities such as the Trust. Some corporate
governance disclosures apply to the responsible entity, which is
not listed; some disclosures relate to the listed entity, BWP Trust;
and some are not applicable. Wherever it is possible to provide
additional disclosures that demonstrate the responsible entity’s
commitment to a strong governance culture, these have been
included in the Corporate Governance Statement.
OUR COMPLIANCE IN 2016
Throughout the reporting year to 30 June 2016, the Trust’s
governance arrangements complied with the ASX Corporate
Governance Council’s Corporate Governance Principles and
Recommendations ASX Principles (3rd edition) as they apply to
externally managed listed entities.
The 2016 Corporate Governance Statement reports on these
arrangements as they relate to the responsible entity Board,
its committees, related party relationships, unitholders, risk
management, internal controls, compliance and external auditor
relationships. In some instances, the Corporate Governance
Statement cross references to disclosures on the website or in the
2016Annual Report where it is appropriate that the information is
considered within the broader context provided by the Annual Report.
The Trust website also contains copies of the Board and committee
charters, and key policies referred to in the Corporate Governance
Statement.
The Trust’s 2016 Corporate Governance Statement can
be viewed in the Corporate Governance section under the
About Us
tab of the Trust’s website.
BWP Trust Annual Report 2016
24
Governance