Nomination Committee

The Committee is responsible for providing recommendations to the Board on all new Board and Committee appointments. A formal process of reviewing the balance and effectiveness of the Board and its Committees, identifying the skills needed and the individuals to provide such skills in a fair and efficient manner, is required of the Committee to ensure the Board and its Committees remain effective and focused. This includes a regular review of the composition of the Board Committees and includes assisting the Chairperson with the annual evaluation of Board performance.

The Committee is responsible for identifying appropriate Board candidates and evaluating them against the specific disciplines and areas of expertise required.

Two meetings were held in the year under review.

In terms of the King III requirements, the Committee is required to comprise a majority of independent Non-Executive Directors. As at 30 June 2016, the Group did not comply with this requirement as the membership of this Committee comprises one independent Non-executive Director and three Non-executive Directors. A review of the constitution of this Committee is not necessary at present as the members fulfil their roles independently when carrying out their Committee duties.

The Chairperson of the Committee is the Chairperson of the Board and reports to the ACT Board on the activities and recommendations made by the Committee. The duties and responsibilities as contained in the terms of reference include:

Formulate and adopt a clear, transparent process for the selection, nomination and appointment of Directors to the Board

Provide recommendations to the Board on the appointment of new Executive and Non-executive Directors, including providing recommendations on the composition of the Board and the balance between Executive and Nonexecutive Directors appointed to the Board

Ensure that succession plans are in place, particularly for the Chairperson and CEO positions

Liaise with the Board in relation to the preparation of the Committee’s report to shareholders, as required


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