SunWater was established as a statutory Government Owned Corporation (GOC) on 1 October 2000 under the Government Owned Corporations Act 1993. On 1 July 2008, SunWater transitioned to a Company GOC under the Corporations Act 2001 and is registered as SunWater Limited ACN 131 034 985.
Our corporate governance practices and frameworks have been established in compliance with the governance requirements in legislation, including the Government Owned Corporations Act 1993, Corporations Act 2001, Right to Information Act 2009, Public Records Act 2002, Crime and Misconduct Act 2001 and the Financial Accountability Act 2009, and have regard to the Queensland Government’s Corporate Governance Guidelines for GOCs.
Internally, we have implemented significant processes to ensure policies, guidelines and practices remain aligned with the wider legislative and GOC policy framework that is relevant to the Company and its subsidiaries. Through regular monitoring, reporting and disclosure, we are able to demonstrate that our corporate governance practices are adequate and appropriate.
The framework SunWater works under includes the following elements:
- Foundations and oversight management
- Structure the Board to add value
- Promote ethical and responsible decision making
- SunWater’s Code of Conduct
- Recognise and manage risks
- Safeguard integrity and financial reporting
- Make timely and balanced disclosures
- Respect the right of shareholders and stakeholders
- Remunerate fairly and responsibly