Chapter 2
Individual 2010–2011 Annual Reports
Reports under the Industry, Innovation, Science, Research and Tertiary
Education portfolio
Australian Institute of Aboriginal
and Torres Strait Islander Studies (AIATSIS)
Reporting requirements
2.1
The committee considers that AIATSIS has met its reporting requirements
under section 63 of the Public Service Act 1999 and section 9 of the Commonwealth
Authorities and Companies Act 1997 (CAC Act).
2.2
The committee notes that AIATSIS did not provide a full date on the
Letter of Transmittal.
Recommendation 1
2.3
The committee recommends that the Australian Institute of Aboriginal and
Torres Strait Islander Studies record a full and proper date, stipulating the
day, month and year on the Letter of Transmittal.
Operational Matters
2.4
The committee notes AIATSIS's concerns over a lack of funding and the
serious implications this has had for their operations.
2.5
AIATSIS is to be commended for a very interesting annual report. It
contained vivid descriptions of preservation projects, such as the archival of
the history of two Canberra families,[1]
and NAIDOC on the Peninsula.[2]
2.6
Other highlights of the year include the publication of a 148 year old
encyclopaedia in 2010.[3]
Published by Aboriginal Studies Press, Australia: William Blandowski's
illustrated encyclopaedia of Aboriginal Australia, previously only existed
as a sole surviving complete copy, written in German, buried in the State
Library of Berlin.[4]
2.7
AIATSIS is also continuing its preservation and archival activities and
has acquired a high-performance file storage system and upgraded facilities to
assist in its activities.[5]
Australian Institute of Marine
Science (AIMS)
Reporting Requirements
2.8
The committee considers that AIMS has met its reporting requirements
under section 63 of the Public Service Act 1999 and section 9 of the CAC
Act.
2.9
However, the committee questions the payment of a large bonus to a
senior executive, totalling $96,016. The annual report states that 'the maximum
bonus that an individual can receive was 32 per cent of his [sic] base salary',[6]
however, the percentage of this particular bonus amounts to 36.6 per cent of
the base salary of $262, 268, and far exceeds bonuses paid by other agencies of
the same status.
Operational Matters
2.10
A major milestone was reached on 30 June 2011, with the end of the
2007–2011 Research Plan and the beginning of the new 2011–2015 Research Plan.
2.11
2011 also marks the end of Dr Ian Poiner's tenure, who has been the CEO
of AIMS for the past seven years.
2.12
AIMS reports that it is facing major challenges due to a shortfall in
base funding as a result of significant cost inflation, which is not being
matched by indexation of their appropriation revenue. There has also been a general
reduction in funding provided to co-invested research programs.[7]
2.13
Some of AIMS's achievements throughout the year include:
-
the significant upgrades to infrastructure as part of the
Tropical Marine Research Facilities Project;[8]
-
the Scott Reef Research Project was completed making it the
largest baseline environmental study undertaken by AIMS for the oil and gas
industry;[9]
-
after 10 years of research and information assembly by global
experts, the first Census of Marine Life was release in 2010, assessing humankind's
knowledge of the oceans;[10]
and
-
AIMS's headquarters at Cape Ferguson, Townsville, was a
designated cyclone evacuation point during Tropical Cyclone Yasi and local
residents sought refuge in the main building.[11]
2.14
Negotiations are also currently underway between management and staff regarding
the 2012–2015 AIMS Enterprise Agreement.[12]
Australian Nuclear Science and
Technology Organisation (ANSTO)
Reporting requirements
2.15
The committee considers that ANSTO has met its reporting requirements
under section 63 of the Public Service Act 1999 and section 9 of the CAC
Act.
Operational Matters
2.16
ANSTO is the custodian of nuclear knowledge and expertise in Australia
and operates OPAL, Australia's only research reactor.
2.17
The annual report outlines changes to the board of ANSTO, including the
appointment of a new Chairman, Professor Paul Greenfield AO who takes over from
Dr Zygmunt (Ziggy) Switkowski.
2.18
According to the annual report, following the March 2011 earthquake and
tsunami in Japan, ANSTO supported the government by providing technical
information and advice to the Interdepartmental Emergency Task Force, chaired
by the Department of Foreign Affairs and Trade.[13]
2.19
Nuclear technology is being used in early research to shed light on
early cultural connectivity across Eurasia by investigating sites in northwest
China. ANSTO is applying isotopic methods and atomic mass-spectrometry with
radiocarbon dating to archaeological remains from Bronze Age sites to better
understand cereal cultivation, animal husbandry and metal-work technology.[14]
Australian Research Council (ARC)
Reporting requirements
2.20
The committee considers that ARC has met its reporting requirements
under section 63 of the Public Service Act 1999, the Financial Management
and Accountability Act 1997 (FMA Act) and the Australian Research
Council Act 2001 (ARC Act).
Operational matters
2.21
The committee notes the observations of the ANAO Audit Report, which
stipulates that the ARC has recently become aware:
...there is an increased risk of non-compliance with section
83 of the Constitution where payments made from special appropriations and
special accounts in circumstances where the payments do not accord with
conditions included in the [ARC Act].[15]
2.22
The report also noted that the ARC has advised that these circumstances
will be investigated.
2.23
In 2010–2011 the first national stocktake of the quality of research at
Australian universities was completed, under the Excellence in Research for
Australia (ERA) initiative. The findings are informing research policy and will
be incorporated into the funding formula for the Sustainable Research
Excellence in Universities program.[16]
2.24
In February 2011, the commencement of operations of the Australian
Research Integrity Committee (ARIC) was announced. It is jointly administered
by the ARC and the National Health and Medical Research Council (NHMRC) and
will play an important role in reviewing the internal processes for research misconduct
at institutions.[17]
The Commonwealth Scientific and
Industrial Research Organisation (CSIRO)
Reporting requirements
2.25
The committee considers that the CSIRO has met its reporting
requirements under section 63 of the Public Service Act 1999, section 9
of the CAC Act and the Science and Research Industry Act 1949.
Operational Matters
2.26
According to the annual report, Boeing named CSIRO its Global Research
and Development 'Supplier of the Year' in May 2011. The award recognises a 22
year relationship that has seen CSIRO and Boeing jointly invest in projects
such as world-leading technological innovations in aircraft repainting methods,
sustainable aviation fuels and aircraft assembly processes.[18]
Department of Innovation, Industry,
Science and Research (DIISR); includes IP Australia
Reporting requirements
2.27
The committee considers that DIISR has met its reporting requirements
under section 63 of the Public Service Act 1999 and the FMA Act.
Operational Matters
2.28
The committee notes the observations of the ANAO Audit Report, which
stipulates that both DIISR and IP Australia have recently become aware:
...there is an increased risk of non-compliance with section
83 of the Constitution where payments made from special appropriations and
special accounts in circumstances where the payments do not accord with
conditions included in the relevant legislation.[19]
2.10 The report also noted that DIISR and IP Australia
has advised that these circumstances will be investigated.
2.29
According to the annual report Questacon was awarded the 2010 Canberra
and Capital Region Tourism Award in the Tourist Attraction Category in December
2010.[20]
2.30
Professor Penny Sackett stepped down as Chief Scientist on 4 March 2011.
Her successor, Professor Ian Chubb AC was appointed as the Chief Scientist on
19 April 2011 and commenced his three-year term on 23 May 2011.[21]
2.31
Other highlights include the extension of the Small Business Support
Line (SBSL), which provides a single point of contact for small businesses to
access information and referral services. The SBSL has received over 31,000
calls since it was launched in September 2009.[22]
2.32
The department announced the first round of funding for the
Collaborative Research Network (CRN) program, which encourages smaller, less
research-intensive, and regional higher education institutions to develop their
research capacity by collaborating with other institutions in areas of common
interests.[23]
2.33
Highlights for IP Australia include the launch of the Dream Shield
Project in November 2011, which features success stories and tips for
Aboriginal inventors, designers and business owners,[24]
and the completion of the Advisory Council on Intellectual Property's (ACIP)
report on Patentable Subject Matter.[25]
Reports under the Resources, Energy and Tourism portfolio
Australian Solar Institute (ASI)
Reporting requirements
2.34
The committee considers that ASI has mostly met its reporting
requirements under section 63 of the Public Service Act 1999 and section
9 of the CAC Act.
2.35
The committee notes that the annual report of the ASI did not contain a
Compliance Index and did not include a section detailing Freedom of Information
(FOI) requests as outlined in the Prime Minister and Cabinet's (PM&C) Requirements
for Departmental Annual Reports[26]
and approved by the Joint Committee of Public Accounts and Audit (JCPAA).
Recommendation 2
2.36
The committee recommends that the Australian Solar Institute include a
Compliance Index in their 2011-2012 annual report and a list of Freedom of
Information requests, as outlined in the Prime Minister and Cabinet's Requirements
for Departmental Annual Reports.
Operational matters
2.37
The one year anniversary of the ASI was marked on 10 August 2010.
2.38
In November 2010, the US-Australia Solar Energy Collaboration was announced
by the Prime Minister, Julia Gillard and U.S. Secretary of State, Hillary
Clinton. This collaboration aims to accelerate the reduction in costs for solar
energy technologies.[27]
2.39
A memorandum of understanding was signed in March 2011 between ASI and
the Deutches Zentrum für
Luft–und Raumfahrt (DLR), a leading European Research body located in
Germany, to develop concentrated solar power (CSP) technologies.[28]
Department of Resources, Energy and
Tourism (DRET)
Reporting requirements
2.40
The committee considers that DRET and Geoscience Australia have met its
reporting requirements under section 63 of the Public Service Act 1999
and the FMA Act. The committee commends DRET on an outstanding report.
2.1
DRET's annual report also includes the annual report of Geoscience
Australia, a prescribed agency within the portfolio.
Operational matters
2.41
Since the publication of the 2010–11 Portfolio Budget Statements DRET
assumed responsibility for the Smart Grid, Smart Cities program from the
Department of Climate Change and Energy Efficiency.
2.42
DRET implemented three significant changes to their operations during
the year:
-
the establishment of the Clean Energy Division (1 July 2010) to
focus on the delivery of the government's Clean Energy Initiative which
includes the Solar and Carbon Capture and Storage Flagships programs, the
Australian Centre for Renewable Energy and the Australian Solar Institute;
-
the establishment of the Bureau of Resources and Energy Economics
(operating since 1 July 2011) through transfer of staff from the former
Australian Bureau of Agricultural and Resource Economics and Sciences (ABARES),
recruitment of new staff and the appointment of a Chief Economist; and
-
the Strategic Review of Geoscience Australia conducted with the
Department of Finance and Deregulation affirmed that it performs a
whole-of-government role, but recommended that it form closer links with DRET
in the establishment of priorities and responsibility for spatial information
policy. The APS200 project will recommend introducing a spatial data location
policy across the Australian Government. The Office of Spatial Data Management
function will therefore move into DRET.
2.43
Other highlights of DRET's year include the launch of the National
Carbon Capture and Storage Council; the development of Carbon Capture and
Storage Flagships program; the announcement of two solar flagship projects in
Queensland and New South Wales; the launch of the Renewable Energy Venture
Capital Fund; strengthening of the bilateral engagement with China through the
memorandum of understanding on resource cooperation, the Australia-China Joint
Coordination Group on Clean Coal Technology; and a new memorandum of
understanding on strengthening tourism cooperation with China, Australia's
leading tourism market by value. In June 2011 DRET hosted the Australia-China
Tourism Summit in Cairns.
2.44
A highlight for Geoscience Australia was the completion of the five-year
Energy Security Program, to promote investment in the energy and resource
sectors.
National Offshore Petroleum Safety
Authority (NOPSA)[29]
Reporting Requirements
2.45
The committee considers that NOPSA has met its reporting requirements
under the FMA Act and the Offshore Petroleum and Greenhouse Gas Storage Act
2006.
2.46
NOPSA's report also contains the annual report of the NOPSA Advisory
Board, which provides advice and recommendations to the Chief Executive Officer
(CEO) of NOPSA on operational policies and strategies.
Operational matters
2.47
The ANAO report has stated that NOPSA has recently become aware that:
...there is an increased risk of a breach of section 83 of
the Constitution where payments made from special appropriations and special
accounts in circumstances where the payments do not accord with conditions
included in the relevant legislation.
2.48
The report also noted that NOPSA has advised that these circumstances
will be investigated.
2.49
With the release of the Government's Final Response to the Report of the
Montara Commission of Inquiry, 102 recommendations were made, giving rise to a
number of legislative amendments affecting the offshore oil and gas industry.
2.50
NOPSA also took on the responsibility for the regulation of wells and
well-related activities under the Offshore Petroleum and Greenhouse Gas Storage
(Resource Management and Administration) Regulations 2011 on 29 April 2011.
2.51
The committee commends NOPSA for including their Key Performance
Indicators, information relating to occupational health and safety issues and
FOI statistics.
Reports under the Treasury portfolio
Auditing and Assurance Standards
Board (AUASB)
Reporting requirements
2.52
The committee considers that AUASB has met its reporting requirements
under section 63 of the Public Service Act 1999, the ASIC Act and the
FMA Act.
2.53
The committee notes the absence of a Compliance Index.
2.54
This annual report may also be subject to review by the Parliamentary
Joint Committee on Corporations and Financial Services (PJC).
Operational matters
2.55
The AUASB continues to liaise with the Department of Climate Change and
Energy Efficiency regarding the development of audit requirements for reports
prepared under the Clean Energy Scheme and National Greenhouse and Energy
Reporting Act 2007 (NGER Act).[30]
2.56
The Chairman and Executive Director attended the National Standard
Setters Meeting in Toronto, where delegates from 16 countries met to discuss
international audit and assurance standard setting issues.[31]
2.57
The AUASB released the ASA 2011–1 Amendments to Australian Auditing
Standards in June 2011.[32]
Australian Accounting Standards
Board (AASB)
Reporting requirements
2.58
The committee considers that AASB has met its reporting requirements
under section 63 of the Public Service Act 1999, the ASIC Act and the
FMA Act.
2.59
The committee notes the absence of a Compliance Index.
2.60
This annual report may also be subject to review by the Parliamentary
Joint Committee on Corporations and Financial Services (PJC).
Operational matters
2.61
Highlights of AASB's financial year include the issuance of 11 new and
amending standards; 17 exposure drafts and discussion papers; 14 formal
submissions to the International Accounting Standards Board (IASB) and International
Public Sector Accounting Standards Board (IPSASB); and the organisation of
several public roundtable discussions, which were presented to outside groups
on more than 20 occasions.[33]
Australian Bureau of Statistics
(ABS)
Reporting requirements
2.62
The committee considers that the ABS has met its reporting requirements
under section 63 of the Public Service Act 1999 and the FMA Act. The
committee commends the ABS on an outstanding report.
Operational matters
2.63
At the time of reporting, the ABS was preparing for the 16th
Census of Population and Housing (Census) held on Tuesday 9 August 2011.[34]
2.64
The ABS adopted a new strategic direction of transforming the management
of key statistical information in Australia to improve the usability, value and
timeliness of official statistics.[35]
2.65
The ABS hosted the NatStats 2010 Conference in Sydney from 15–17
September 2010. The theme was 'Measuring what counts: economic development,
wellbeing and progress in 21st century Australia'.[36]
2.66
A review in to the Consumer Price Index (CPI) was also completed with
the conclusion that the primary purpose of the CPI will remain as a measure of
household inflation. From September 2011, changes will, however, be made to the
measurement of financial services and seasonally adjusted estimates of the CPI
will also be produced.[37]
Australian Reinsurance Pool
Corporation (ARPC)
Reporting requirements
2.67
The committee considers that ARPC has met its reporting requirements
under section 63 of the Public Service Act 1999 and section 9 of the CAC
Act.
Operational matters
2.68
Mr David Matcham joined the Corporation at the end of the first quarter
as the new CEO.[38]
2.69
ARPC's operating result for the financial year was $61.386 million and
reflects a 15.4 per cent increase over the previous year.[39]
2.70
The gross written premium for the financial year was $112.555 million,
which represents a 7.3 per cent increase on last year.[40]
Australian Securities and
Investments Commission
Reporting requirements
2.71
The committee considers that ASIC has mostly met its reporting
requirements under section 63 of the Public Service Act 1999, the Australian
Securities and Investments Commission Act 2001 (ASIC Act) and the FMA Act.
2.72
The committee notes that ASIC did not provide details of ecologically
sustainable development and environmental performance[41]
as per the JCPAA and PM&C guidelines.[42]
2.73
The committee also notes that ASIC did not provide a Compliance Index.
Recommendation 3
2.74
The committee recommends that in their next annual report, ASIC detail
their compliance under Section 516A of the Environment Protection and
Biodiversity Conservation Act 1999, as outlined in the Requirements for
Annual Reports, published by the Department of Prime Minister and Cabinet
and approved by the Joint Parliamentary Committee on Public Accounts and Audit
in July 2011.
Operational Matters
2.75
Mr Tony D’Aloisio, Chairman of ASIC, left in May 2011. Mr Greg Medcraft
has been appointed as the new Chairman.[43]
2.76
Highlights of ASIC’s year include the donation of $85,786 to 27
not-for-profit organisations by employees, directly from their salary or pay.[44]
2.77
ASIC also concluded negotiations for a new three-year enterprise
agreement. Staff will receive 9 per cent in salary increases over the life of
the three-year agreement, beginning with 3 per cent from July 2011, and then 3
per cent in July 2012 and July 2013.[45]
Commonwealth Grants Commission
(CGC)
Reporting requirements
2.78
The committee considers that the CGC has met its reporting requirements
under section 63 of the Public Service Act 1999 and the Commonwealth
Grants Commission Act 2003.
Operational matters
2.79
In 2010-2011, the 'commission's outcome was fiscal equalisation'.[46]
Outputs relating to this outcome were:
-
the completion of the Report on GST revenue sharing relativities,
2011 Update; and
-
the commencement of work relating to the 2012 Update of GST
revenue sharing relativities.[47]
2.80
The commission has also provided responses to questions asked about its
methods by the review panel and its secretariat, in an effort to be more
transparent. These responses are available on the CGC website at the following
URL: http://www.cgc.gov.au/gst_distribution_review/presentation_on_the_work_of_the_commission.[48]
Companies Auditors and Liquidators
Disciplinary Board (CALDB)
Reporting requirements
2.81
The committee considers that CALDB has met its reporting requirements
under section 63 of the Public Service Act 1999 and the ASIC Act.
2.82
This annual report may also be subject to review by the Parliamentary
Joint Committee on Corporations and Financial Services (PJC).
Operational matters
2.83
During the reporting year, the Chairman of the Board, Donald Magarey
retired and Howard Insall SC was appointed for a period of three years.[49]
2.84
At the commencement of the reporting period, no extant matters were to
be heard. In the final quarter of the reporting year, two conduct matters and
one administrative matter were referred to the Board.[50]
2.85
The committee notes that CALDB appears to be significantly underutilised
by ASIC and APRA and matters referred to the Board have dramatically declined.[51]
Table 2: Breakdown
of number of cases before CALDB
![Table 2: Breakdown of number of cases before CALDB](c02_1.jpg)
Source: CALDB, Annual Report 2010–2011, p. 14
Financial Reporting Council (FRC)
Reporting requirements
2.86
The committee considers that the FRC has met its reporting requirements
under section 63 of the Public Service Act 1999, the ASIC Act and the
FMA Act.
2.87
This annual report may also be subject to review by the Parliamentary
Joint Committee on Corporations and Financial Services (PJC).
Operational matters
2.88
A new Chair, Ms Lynne Wood, has been appointed to the FRC in March 2011.
2.89
Members agreed on a new three year strategic plan. The Strategic Plan
2011-2014 was agreed to at the Council's meeting on 18 April 2011.[52]
2.90
As part of this strategic plan, the Council has identified a number of
key projects which will form the focus of the FRC's activities. As a result,
members will be working with the wider financial reporting community and will
seek to improve the Council's relevance and position in Australia and overseas.[53]
Financial Reporting Panel (FRP)
Reporting requirements
2.91
The committee considers that the FRP has met its reporting requirements
under section 63 of the Public Service Act 1999, the ASIC Act and the
FMA Act.
2.92
This annual report may also be subject to review by the Parliamentary
Joint Committee on Corporations and Financial Services (PJC).
Operational matters
2.93
The annual report does not contain a breakdown of monies spent per
matter referred to the Panel. The committee also notes that the Panel overspent
for 2010-2011, ending the financial year with a $64,381 deficit.
2.94
The committee notes that the government has decided to disband the Panel
and would like to thank its members for their contributions to financial
services regulation.
Inspector-General of Taxation (IGT)
Reporting requirements
2.95
The committee considers that the IGT has met its reporting requirements
under section 63 of the Public Service Act 1999, the Inspector-General
of Taxation Act 2003 and the FMA Act.
Operational matters
2.96
At the time of reporting the office had completed five out of their
seven inquiries and the final two were nearing completion.[54]
2.97
Four reports have been publicly released by the Assistant Treasurer.
These are as follows:[55]
-
Review into the Australian Taxation Office's Change Program;
-
Review of aspects of the Australian Taxation Office's
administration of private binding rulings;
-
Review into the Australian Taxation Office's administration of
the Superannuation Guarantee Charge; and
-
Follow-up review into the Australian Taxation Office's
implementation of agreed recommendations included in the six reports prepared
by the Inspector-General of Taxation between June 2006 and October 2008.
National Competition Council (NCC)
Reporting requirements
2.98
The committee considers that the NCC has met its reporting requirements
under section 63 of the Public Service Act 1999 and the FMA Act.
However, the committee notes that the NCC does not stipulate their reporting
obligations under the FMA Act in the Letter of Transmittal, or in the ‘Annual
reporting requirements and aids to access’ section of the annual report.[56]
Operational matters
2.99
An important development during the year for the Council was the Full
Court of the Federal Court of Australia’s judgement on various review
proceedings relating to the Tribunal’s decisions on the declaration of the
Hamersley and Robe River Railways operated by Rio Tinto (Pilbara Infrastructure
Pty Ltd v Australian Competition Tribunal).[57]
2.100
The contested issue related to subsection 44G(2), criterion (b) of the Competition
and Consumer Act 2010 (CCA) that addresses whether it is uneconomical for
anyone to develop another facility to provide the service for which declaration
is sought. The Tribunal held that it was uneconomical.[58]
2.101
The NCC emphasised in their report that the Full Court’s decision, delivered
on 4 May 2011, contrasts with and overturns the approach taken to relevant
matters by the NCC decision-making Ministers and the Tribunal and they believe
this will have significant impact on decision making under state and territory
access regimes.[59]
Productivity Commission (PC)
Reporting requirements
2.102
The committee considers that the PC has met its reporting requirements
under section 63 of the Public Service Act 1999, section 10 of the Productivity
Commission Act 1998 and the FMA Act.
2.103
The committee commends the Productivity Commission for including their
Senate Estimates appearances in the External Analysis section of the annual
report.[60]
Operational matters
2.104
The Commission had seven public inquiries and nine commissioned research
studies underway at some time during the reporting period. In addition to
completing nine references from the previous year, it received seven new
projects.[61]
2.105
Three new inquiries commenced in 2010–2011:
-
an inquiry into Australia's urban water sector;
-
an inquiry into the current economic regulation arrangements for
airport services; and
-
an inquiry into the economic structure and performance of the
Australian retail industry.[62]
2.106
The Australian Government Competitive Neutrality Complaints Office
(AGCNCO), a separate unit within the Commission, received six formal complaints
during the reporting period. The AGCNCO administers the Australian Government's
competitive neutrality complaints mechanism.[63]
Reserve Bank of Australia (RBA)
Reporting requirements
2.107
The committee considers that the RBA has met its reporting requirements
under section 63 of the Public Service Act 1999 and the CAC Act.
2.108
However, the committee notes that the Reserve Bank did not include a
Compliance Index.
2.109
The committee notes that the RBA did not provide details of ecologically
sustainable development and environmental performance[64]
as per the JCPAA and PM&C guidelines.
Recommendation 4
2.110
The committee recommends that in their next annual report, the RBA
detail their compliance under Section 516A of the Environment Protection and
Biodiversity Conservation Act 1999, as outlined in the Requirements for
Annual Reports, published by the Department of Prime Minister and Cabinet
and approved by the Joint Parliamentary Committee on Public Accounts and Audit
in July 2011.
Operational matters
2.111
The annual report states that the 2010–2011 financial year was less
unusual when compared with the previous two or three years due to more
stability in Australia's monetary policies.[65]
2.112
Due to the high Australian dollar, the Reserve Bank reports a $4.9
billion overall valuation loss on its assets, which was absorbed by the Reserve
Bank Reserve Fund (RBRF).[66]
2.113
Highlights of the RBA's year include increasing international
engagement, particularly in groups seeking to implement international
regulatory reform. These groups include the Financial Stability Board, the G20
and various committees at the Bank for International Settlements.[67]
Superannuation Complaints Tribunal
Reporting requirements
2.114
The committee considers that the Superannuation Complaints Tribunal has
met its reporting requirements under section 63 of the Public Service Act
1999 and section 67 of the Superannuation (Resolution of Complaints) Act
1993.
Operational matters
2.115
The Tribunal implemented the recommendations of an independent 2009 review
into the Tribunal's operations.[68]
2.116
Other milestones for the year include:
-
the implementation of a new organisational structure better
aligned to the current and future complaints resolution procedures and
stakeholder expectations;
-
the establishment of a Leadership team and procedures for
decision-making;
-
adoption of a new Vision, Mission and Values;
-
establishment and successful implementation of a business support
unit and legal team; and
-
adoption of a communications strategy.[69]
Takeovers Panel
Reporting requirements
2.117
The committee considers that the Takeovers Panel has met its reporting
requirements under the ASIC Act.
Operational matters
2.118
A new President was appointed to the Board in September 2010, Ms
Kathleen Farrell, replacing her predecessor Mr Simon McKeon.[70]
2.119
The Panel has had a busy year with 28 applications, many of which have
been time consuming, involving issues relating to association. Two of the
matters were subject to judicial review.[71]
Senator Mark Bishop
Chair
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