Corporate Governance
Babcock & Brown Infrastructure is a stapled security comprising two entities as set out below:
Because Babcock & Brown Infrastructure is a stapled entity, there are a number of aspects of its governance that are different from that of an ordinary listed company. Below we have set out key elements of our corporate governance framework.
1. Babcock & Brown Infrastructure Limited (BBIL)
- The BBIL board normally consists of 4 directors (with the capacity to increase to 12), at least 50% of whom must be non-executive and independent at all times.
2. Babcock & Brown Investor Services Limited (BBIS)
- BBIS is the responsible entity of the Babcock & Brown Infrastructure Trust (BBIT). BBIS is responsible for the corporate governance of BBIT and the protection of BBIT unit holders' interests.
- In accordance with the Corporations Act, BBIS has registered a Compliance Plan for BBIT with ASIC. The Compliance Plan outlines the measures undertaken to ensure compliance with the Corporations Act and BBIT's constitution.
A copy of the Board Charter for each of BBIL and BBIS can be obtained by following this link: BBIL Board Charter and BBIS Board Charter.
The BBIL Board has constituted a standing Audit & Risk Committee to monitor the finanical performance audit and risk management issues arising from BBI's operations. A copy of the charter can be obtained by following this link: Audit & Risk Committee Charter.
The BBIL Board has established a Nomination & Remuneration Committee. A copy of the charter can be obtained by following this link: BBIL Nomination and Remuneration Committee Charter.
A summary of BBI's Corporate Governance is set out in the Corporate Governance Statement in the 2006 BBI Annual Report. A copy of the Corporate Governance Statement is extracted below. The Corporate Governance Statement refers to sections of the Annual Report and should be read together with that document. A copy of the Corporate Governance Statement can be obtained by following this link: Corporate Governance Statement.