Corporate governance

ARPC is established as a body corporate under the Terrorism Insurance Act 2003 (Cth)(TI Act). It is a corporate Commonwealth entity and public financial corporation for the purposes of the Public Governance, Performance and Accountability Act 2013 (Cth) (PGPA Act).  

ARPC comprises a Chair and up to six other members and together they form the Board and accountable authority for the purposes of the PGPA Act. As required by the PGPA Act, ARPC has an audit committee (the Audit and Compliance Committee) comprising members of the Board.

Under the TI Act, the Board appoints the CEO of ARPC. The CEO manages the affairs of ARPC subject to the directions of, and in accordance with, policies determined by the Board.

In addition to the statutory framework, ARPC’s corporate governance framework is underpinned by the Board Charter, the Audit and Compliance Committee Charter, the Enterprise Risk Management Framework and a suite of policies and procedures.  

ARPC’s external auditor is the Australian National Audit Office and its internal audit function is outsourced.

 

Senate Orders

Entity Contracts

The Senate Order on Entity Contracts (also known as as the Murray Motion) requires agencies subject to the Public Governance, Performance and Accountability Act 2013 (Cth) (PGPA Act) to make available on the internet a list of contracts $100,000 (GST inclusive) or more, which are current or entered into during the previous 12 months.

Indexed lists of departmental and agency files

The Senate Order on Indexed Lists of Departmental and Agency Files (also known as the Harradine Report) requires ARPC to make available on the internet an indexed list of the titles of all policy files created in the organisation every six months.

 

Australian Reinsurance Pool Corporation Gifts and Benefits – 2019-20 

In the course of official duties, officials of ARPC received the following gifts and/or benefits where the value exceeds $A100 (excluding GST). 

Period: 1 September 2019 – 31 March 2020

Date Received Date Recorded

Gift item/benefit/services

Received by (agency contact if not received directly by agency head)

Presented by (giver’s name, organisation)

Occasion

Estimated value in $ (wholesale value in country of origin or current market value in Australia)

09/12/2019

12/12/2019

2 x wine hamper

CEO

The New India Assurance Co. Ltd

Unsolicited Christmas gift subsequently raffled to staff

$200