Table 24 Board committees Role Membership Commercialisation Committee Reviews, evaluates and makes recommendations to the Board and Deputy Chair and management on matters relating to: three other directors appointed by the the strategic oversight of the GRDC in regard to its planning processes Board. related to the integration of research, development, commercialisation and adoption processes the commercial and R&D interaction between the GRDC and the private sector, including R&D partnerships, commercial structures and other joint ventures the development of draft policies regarding ownership of project intellectual property, risk-sharing and licensing conditions with research and commercialisation partners to assist with the adoption of the results of R&D corporate governance and risk management in the area of commercialisation and adoption of the results of R&D, including oversight of the role and investments in companies that undertake such GRDC’s commercialisation and adoption intellectual property management, protection and enforcement as necessary for the commercialisation of the results of R&D. Finance, Risk and Audit Committee Assists the Board in fulfilling its corporate governance responsibilities and At least three reviews the nonexecutive GRDC’s: directors. financial reporting process internal control system risk management strategy and processes internal and external audits process for monitoring compliance with laws and regulations and the of conduct Board’s code financial statements. Remuneration Committee Reviews and makes recommendations to the Board on matters relating to the Chair, Deputy Chair remuneration and performance policy of the GRDC and the remuneration and and two other performance of the Managing Director. directors appointed by the Board. Roles, responsibilities and code of conduct The roles and responsibilities of members of the Board, and their code of conduct, are documented in the GRDC Operating Manual. The Board reviews its roles and responsibilities at least once every year. Induction and training New Board members participate in a formal induction process, and all Board members undergo a process of continuous education.
Table 24 Board committees Role Membership Commercialisation Committee Reviews, evaluates and makes recommendations to the Board and management on matters relating to: the strategic oversight of the GRDC in regard to its planning processes related to the integration of research, development, commercialisation and adoption processes the commercial and R&D interaction between the GRDC and the private sector, including R&D partnerships, commercial structures and other joint ventures the development of draft policies regarding ownership of project intellectual property, risk-sharing and licensing conditions with research and commercialisation partners to assist with the adoption of the results of R&D corporate governance and risk management in the area of commercialisation and adoption of the results of R&D, including oversight of the GRDC’s role and investments in companies that undertake such commercialisation and adoption intellectual property management, protection and enforcement as necessary for the commercialisation of the results of R&D. Deputy Chair and three other directors appointed by the Board. Finance, Risk and Audit Committee Assists the Board in fulfilling its corporate governance responsibilities and reviews the GRDC’s: financial reporting process internal control system risk management strategy and processes internal and external audits process for monitoring compliance with laws and regulations and the Board’s code of conduct financial statements. At least three nonexecutive directors. Remuneration Committee Reviews and makes recommendations to the Board on matters relating to the remuneration and performance policy of the GRDC and the remuneration and performance of the Managing Director. Chair, Deputy Chair and two other directors appointed by the Board. Roles, responsibilities and code of conduct The roles and responsibilities of members of the Board, and their code of conduct, are documented in the GRDC Operating Manual. The Board reviews its roles and responsibilities at least once every year. Induction and training New Board members participate in a formal induction process, and all Board members undergo a process of continuous education.
grdcannualreport2013-14inword.docx