Page 4991 - Week 13 - Thursday, 2 November 2017

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It should be noted the decisions to enter into these contracts were approved by the Board and notified to the Government. At no stage were the Shareholder Ministers asked to approve these agreements, nor were they required to do so under the Territory-owned Corporations Act 1990 (TOC Act).

The value of the service agreements was provided in answer to QTON No.E17 – 019.

(iii) Treasury is provided with copies of all correspondence to Voting Shareholders, who must be Ministers, at the time of distribution to Shareholders.

As part of usual business practices, Icon Water provides regular quarterly reporting to the Voting Shareholders that includes updates on operations, performance, capital expenditure and major projects.

(2) Under the TOC Act, Icon Water Limited is obligated to advise shareholders on significant events (section 16A).

The TOC Act provides examples of significant events as (1) new ventures and (2) significant changes to existing activities. Given the broad nature of this requirement, the table below provides a list of matters notified to Voting Shareholders during 2011-12, 2016-17 and 2017-18 and includes items that were notified as part of updates in relation to matters that did or may constitute a significant event as the activity was progressed.

Date	Item
2011-12
1 July 2011	ACTEW letter to Voting Shareholders (VS) advising of the discovery of a geological fault around the dam foundation area.
26 August 2011	ACTEW letter to VS advising of key matters discussed at 24 August 2011 Board meeting including:
	- Water Security Major Projects (MWSP)Update
	- ACT Solar Demonstration Facility
8 September 2011	ACTEW letter in response to a request for information from the VS regarding remuneration of the Managing Director (MD).
22 September 2011	ACTEW letter to VS providing June to August 2011 Quarterly Report on the MWSP. Significant issues included:
	- Progress on the Enlarged Cotter Dam(ECD) project and the impact of difficult weather conditions
	- Progress with rectifying the Geological Fault
	- Non-work related fatality at ECD
	- Prohibition orders raised by Worksafe
	- Progress on the Murrumbidgee to Googong Pipeline
23 September 2011	ACTEW letter to VS advising of key matters discussed at the Board meeting held on 23 September 2011 including:
	- 2013-18 Regulatory submission
	- Progress with strategic review of the water business
9 November 2011	ACTEW Board papers included advice about the schedule for the Enlarged Cotter Dam Project (ECD). The MD advised the Board that he had informed the Voting Shareholders.

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