Page 42 - Bauxite Resources Annual Report 2014

40 | Bauxite Resources Annual Report 2014
CORPORATE GOVERNANCE STATEMENT
Corporate Governance Statement cont.
Annual Report 2014 Bauxite Resources 40
ASX Principle Status Reference/comment
Principle 7
Principle 8: Remunerate fairly and responsibly
8.1 The Board should establish a remuneration
committee
A A remuneration committee was formed on 23 August 2013 with
Mr Atkins as Chairman, and Mr Lithgow and Mr Nash being
members (none of the members are independent). The committee
follows the Remuneration Committee charter and there was one
meeting during the year to deal with remuneration issues.
8.2 The remuneration committee should be
structured so that it:
N/A Refer comments above regarding the committee and the
independence issues
ï‚· consists of a majority of independent
directors
ï‚· is chaired by an independent chair
ï‚· has at least three members
8.3 Companies should clearly distinguish the
structure of non-executive directors’
remuneration from that of executive
directors and senior executives
A
8.4 Companies should provide the information
indicated in the Guide to reporting on
Principle 8
A Refer to the Remuneration Report in the Company’s Annual
Report.
A = Adopted
N/A = Not adopted