Page 1467 - Week 05 - Wednesday, 10 April 2013

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(i) misreporting of the remuneration for ACTEW Corporation Ltd’s managing director in the 2010-2011 annual report; and

(ii) quantum of the managing director’s remuneration package;

(c) the Chief Minister’s request of ACTEW Corporation Ltd for an analysis and report on “corporate largesse” in its expenditure;

(d) the return of water and sewerage assets and business from the joint venture to ACTEW Corporation Ltd on 1 July 2012; and

(e) concerns identified in Draft Report No 1 of 2013 of the Independent Competition and Regulatory Commission on Regulated Water and Sewerage Services; and

(2) directs the Speaker to write to the ACT Auditor-General, requesting a performance audit on ACTEW Corporation Ltd, reporting to the Assembly by the last sitting day in September 2013 and examining the Corporation’s governance arrangements including, but not limited to:

(a) ACTEW Corporation Ltd’s management of the major water security projects, particularly the Enlarged Cotter Dam;

(b) the processes used to assess, determine, approve and review executive remuneration and performance;

(c) the “corporate largesse” of expenditure of ACTEW Corporation Ltd including, but not limited to, community engagements and sponsorships;

(d) the process and justification for the return of water and sewerage assets and business from the joint venture to ACTEW Corporation Ltd on 1 July 2012;

(e) concerns raised in the draft report referred to in part (1)(e);

(f) the internal control procedures and checks and balances ACTEW Corporation Ltd engages to:

(i) protect its interests as a joint venture partner in ActewAGL; and

(ii) ensure good governance within ActewAGL;

(g) shareholders’ responsibilities and compliance requirements in relation to:

(i) the memorandum and articles of association of ACTEW Corporation Ltd;

(ii) relevant ACT law; and

(iii) relevant Australian corporate law; and

(h) any other matter.

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