Controlled Entity Reporting Requirements Schedule

Document Number000903
Date Approved22 May 2009
 

1.0  Introduction

The University of Newcastle Act 1989 (NSW) provides for the University Council to establish controlled entities to undertake activities that are consistent with the University’s objects and functions.

The University has a number of controlled entities. These are subsidiary companies of the University. Each is a separate legal body to the University, governed by its own Board of Directors, but each is also connected to the University legally, financially and operationally.

The Governance Framework for Controlled Entities Policy establishes a governance framework for the University’s controlled entities that is consistent with the University’s strategic goals, governance and risk management practices and assists Council to effectively discharge its responsibilities in relation to controlled entities.

The Controlled Entity Reporting Requirements Schedule details the annual reporting cycle that Boards of controlled entities must provide to Council via its standing committees.

 

2.0  Reporting to Council

2.1  Boards of controlled entities are required to provide regular reports and items of business to Council in accordance with the schedule outlined under Clause 4.0.

2.2  It is recommended that Boards of controlled entities should delegate authority to the Chair and Chief Executive Officer to provide and approve reports to Council that may be required outside the schedule of regular Board meetings.

2.3  Consistent with Council’s business practices, reports and items of business should be considered by the relevant standing committee of Council prior to Council meetings.

 

3.0  Items for Immediate Notification

3.1  Controlled entities are required to provide immediate notice to the University Secretary, Chief Financial Officer and Director Risk and Commercial Services of:

  • any representation to the Australian Securities and Investment Corporation (ASIC), the New South Wales Office of State Revenue (OSR), or to the Australian Taxation Office (ATO), of which the Council and Chief Financial Officer need to be aware for both governance and statutory reporting requirements;
  • approval by the Board of the controlled entity for the establishment of a subsidiary company and/or commercial activity as defined in the University’s Commercial Activities Guidelines;
  • registration of all business names and domain names by the controlled entity; and
  • knowledge of any event which may give rise to an insurance claim by the University.

4.0  Annual Reporting Schedule

See Controlled Entities Reporting Schedule (pdf file).

Approval AuthorityCouncil
Date Approved22 May 2009
Date for Review22 May 2012
Policy SponsorVice-Chancellor
Policy OwnerUniversity Secretary
Policy ContactUniversity Secretary
Amendment History

Minor amendments to provide link to PDF version of schedule and to update the reference to the Controlled and Associated Entities Sub-Committee - 4 April 2013

Minor amendment to add risk information as requisite for meeting 1 for consistency across meetings, approved Vice-Chancellor 15 June 2011

Minor amendment - Annual Assurance Statement moved from Meeting 4 to Meeting 1; Items required for any meeting moved to top of Schedule.

New Schedule approved by Council 22 May 2009 (ARM09:018)