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Ethical Decision-making
The Board has taken steps to promote ethical and responsible decision making within the Company. As regards the Directors, the Board has adopted a Code of Conduct recommended by the Australian Institute of Company Directors. That Code is specifically formulated for directors and aims to contribute to the development of a culture of accountability and investor confidence in the Board. The Code supplements the legal and statutory obligations to which directors are already subjected to by reason of their position.
The Board has also implemented a general Code of Conduct for employees. The Code covers such topics as conflicts of interest, fair dealing of fellow employees, suppliers and customers, the protection of company assets and opportunities and the encouragement of the reporting of unlawful or unethical behaviours. To complement the codes, the company has adopted a whistleblower policy and anti-fraud policy. To date, there has not been any report made to the company solicitors pursuant to the whistleblower policy.
The Company has also adopted a share trading policy that regulates shares trading by directors, senior management and specified employees who have day to day access to the Company's financial position. The policy only allows limited share trading periods after major market announcements such as the release of financial results and the annual general meeting. The policy is monitored by the Board, Chairman and Company Secretary. The policy is supplemented by the statutory provisions contained in the Corporations Act 'insider trading' provisions. |
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