02Governance

CEFC ANNUAL REPORT / 2015–16

BOARD COMMITTEE MEMBERSHIP

Each of the Board members serves on one of the Board Committees, either as a Committee chair or member. Committee meetings are open to all Board members to attend, but only Committee members have voting rights.

Meeting attendance by Board members

In 2015-16 there were 11 Board meetings and a further 11 Board Committee meetings. Attendance is detailed in Figure 26. Only attendance of the actual members of each Committee is recorded in this table, although all Board members are entitled to attend any meeting of a Committee.

Figure 25: Board committee memberships 2015-16

Board member

Remuneration and
Human Resources Committee

Audit and Risk Committee

Jillian Broadbent AO

Committee Member
From 24 September 2015

 

Paul Binsted

 

Committee Chair

Michael Carapiet*

Committee Chair
To 21 August 2015

Committee Member
From 21 August 2015 to 18 December 2015

 

Ian Moore

 

Committee Member

Anna Skarbek

Committee Member

 

Andrew Stock

Committee Member
To 21 August 2015

Committee Chair
From 21 August 2015

 

Martijn Wilder AM

 

Committee Member

*Leave of absence 21/09/2015 – 18/12/2015; Resigned 18/12/2015 

Figure 26: Board member meeting attendance 2015-16

Board Member

Board Meetings

Remuneration and
Human Resources Committee

Audit and Risk Committee

Attended

Eligible to Attend

Attended

Eligible to Attend

 Attended

Eligible to Attend

Jillian Broadbent AO

11

11

4

4

 

 

Paul Binsted

11

11

 

 

5

5

Michael Carapiet*

0

1

0

2

 

 

Ian Moore

10

11

 

 

5

5

Anna Skarbek

11

11

6

6

 

 

Andrew Stock

10

11

6

6

 

 

Martijn Wilder AM

10

11

 

 

4

5

*Leave of absence 21/09/2015 – 18/12/2015; Resigned 18/12/2015 

Board member remuneration and allowances

Under the CEFC Act and the Remuneration Tribunal Act 1974, remuneration for Board members is determined independently by the Australian Government Remuneration Tribunal. Throughout 2015-16, the Remuneration Tribunal Determinations reflected in Figure 27 were in effect.

Figure 27: Remuneration Tribunal Determinations 2015-16

Determination

Date of effect

Remuneration Tribunal Determination 2015/08: Remuneration and Allowances for Holders of Part-Time Public Office
(as amended)

From 11 May 2015

Remuneration Tribunal Determination 2015/20:  Remuneration and Allowances for Holders of Part-Time Public Office
(as amended)

From 1 January 2016

Under both determinations, Board members were remunerated annually (rather than per day or by meeting) as outlined in Figure 28. The remuneration amount changed from 1 January 2016 in accordance with Remuneration Tribunal Determination 2015/20: Remuneration and Allowances for Holders of Part-Time Public Office (as amended).

Figure 28: Rates of Board Member remuneration 2015-16

Office

Annual remuneration

to 31 December 2015

Annual remuneration

from 1 January 2016

Chair

$102,400

$104,450

Board Member

$51,200

$52,230

In addition, superannuation is payable on these amounts at the rate of 9.5 per cent in accordance with the Superannuation Guarantee Charge Act 1992. Actual amounts paid to each Board member during the reporting period are specified in Note 5.3 in the Financial Statements.

Travel allowance is also payable under the Remuneration Tribunal Determinations. During 2015-16 these were set by the Remuneration Tribunal Determination 2013/16: Official Travel by Office Holders (as amended) (to 30 August 2015) and Remuneration Tribunal Determination 2015/11: Official Travel by Office Holders (as amended) (from 30 August 2015).

Interpretation of the 2013/16 Determination was affected by Policies of the Australian Government.