We are committed to running RACQ ethically and in line with the appropriate standards of corporate governance.
Annual General Meeting (AGM)
RACQ’s AGM was held at 2pm, Tuesday, 19 November 2019. More information is available in the Notice of Meeting
. We are pleased to announce that both the special resolutions put to the AGM were passed. The resolutions were:
Resolution 1. Election of Honorary Life Member
“That pursuant to rule 4.5 of RACQ’s Constitution, Mr Nigel Alexander is elected an Honorary Life Member of RACQ.
Resolution 2. Amendment to RACQ Constitution
“That, in accordance with section 167AJ of the Corporations Act, RACQ’s Constitution be modified by making the amendments contemplated in section 167AI of the Corporations Act and as set out in the Explanatory Memorandum.”
Statistics in respect of the above resolutions are available here.
You can watch a recording of the AGM here.
Corporate Governance Statement
The RACQ Corporate Governance Statement (PDF, 58 KB) is current at 24 September 2019 and has been approved by the RACQ board.
The board of directors
The role of the board is to oversee and guide the management of RACQ with the aim of protecting and enhancing long-term member value. The board is responsible for ensuring effective governance practices and the overall performance and conduct of RACQ. A number of committees exist to assist this function.
- Group Audit Committee – assists the board fulfilling its objectives and oversight for financial and statutory reporting, external and internal audit, and the effectiveness of the Group’s financial reporting framework.
- Group Remuneration and Nomination Committee – provides advice in relation to remuneration and nomination policies and practices that accord with RACQ’s values and the relevant compliance obligations.
- Group Capital and Investments Committee – assists in the governance and stewardship of RACQ Group capital and investments.
- Risk and Compliance Committee – assists in fulfilling the board’s risk management and compliance responsibilities.
Codes of conduct
Employees at all levels are required to conduct themselves with the highest ethical standards of corporate behaviour. Our directors code of conduct requires directors to behave ethically, act within the law, avoid conflicts of interest and act honestly in all business activities. Our employee code of conduct sets out the principles and standards for all employees.
Speak up framework
RACQ has established a whistleblower reporting framework to encourage and support speaking up when a person has reasonable grounds to suspect misconduct, illegal or inappropriate behaviours. The speak up and reporting process is easy, safe and secure through our independent external whistleblower hotline, Stopline.
More information can be found in the RACQ Whistleblower Policy (PDF, 301KB).
Constitution and bylaws
RACQ’s members have rights which are set out in RACQ’s Constitution (PDF, 300KB) and By-Laws (PDF, 134KB).
Remuneration, performance and assessment
Under the RACQ’s Constitution (PDF, 300KB), eligible members determine the aggregate remuneration payable to directors. The board then determines its individual allocation. Senior management remuneration is determined by market information provided by an independent expert.
We have a formal performance management system for all members of the senior management team. Management discuss their performance with the Group CEO every six months, and the board assesses the performance of the Group CEO.
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