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Journeys : Oct Nov 2012
RACT Annual Report 2011/12 7 2011/12 Mr S E Slade (President) Ms J M Archer Directors’ Report In respect of the year ended 30 June 2012, the directors of The Royal Automobile Club of Tasmania Limited (RACT Ltd) present the following report made out in accordance with a resolution of the directors. 1. DIRECTORS The names of the directors during and since the end of the financial year are: Mr S E Slade (President) Mr P J Joyce (Vice President) Mrs K A Westwood (Vice President) Ms J M Archer Mr E C Best, AM, JP Mr D M Catchpole Mr B F Clark Mr P A Dixon Mr R H Holmes Mr C J Langdon Mr R S Locke Mr A C St acey, AM Directors are all members in accordance with the Constitution. Directors’ qualifications and experience are provided in section 13 of this report. 2. PRINCIPAL ACTIVITIES The principal activities of the consolidated entit y are to act as a roadside assistance provider, travel agent and general insurance distributor. 3. FINANCIAL RESULTS OF THE CONSOLIDATED ENTITY The consolidated entity’s total comprehensive income for the year ended 30 June 2012, was $5,305,797 (2 011, $4,887,831). 4. REVIEW OF OPERATIONS A review of operations is included in the Chairman’s Report which accompanies this report. 5. SIGNIFICANT CHANGES IN STATE OF AFFAIRS There were no significant changes in the state of affairs of the consolidated entity during the year. 6. FUTURE DEVELOPMENTS Disclosure of information regarding likely developments in the operations of the consolidated entit y in future financial years and the expected results of those operations is likely to result in unreasonable prejudice to the consolidated entit y. Accordingly, this information has not been included in this report. 7. MEETINGS OF DIRECTORS During the financial yea r, 27 meetings of directors (including committees) were held. The number of meetings attended by each director during the year is disclosed in the following table. The company has an Audit & Risk Management Committee which met 5 times during the financial year. The members of this commit tee are Mr R H Holmes (Chair), Mr P A Dixon, Mr P J Joyce, Mr C J Langdon and Mr R S Locke. The Audit & Risk Management Commit tee’s main responsibilities are to ensure that the audit process (both external and internal) is ef fective, that external reporting and corporate governance responsibilities are addressed, and that internal control and risk management structures are appropriate. Mr P J Joyce (Vice-President) Mrs K A Westwood (Vice-President) October / November 2012 83
Aug Sep 2012
Dec 2012 Jan 2013