About us

Being established under the State Owned Enterprises Act 1992, we are subject to Corporations Law. Our water and sewerage licence is issued under the Water Industry Act 1994, with the licence term from 1 January 1995 unless and until revoked.

Role of the Board

The Board of Directors is responsible for the strategic direction and monitoring of our business on behalf of the shareholder, the State Government. Day-to-day responsibility for operations and administration is delegated by the Board to the Managing Director and his Executive Team.

Members of the Executive Team are invited to Board meetings when their areas of operational responsibility are considered. The Board ensures that our funds are used to deliver the best possible service to our customers and financial returns to our shareholder.

Board membership

The Board has seven directors comprising a non-executive Chairman, five non-executive directors and one executive director (the Managing Director).

All directors are appointed by and accountable to the shareholder, the State Government. The Company's Constitution provides for a proportion of the directors to retire by rotation each financial year. Retiring directors are eligible for re-election.

As a state-owned company, all shares are beneficially owned by the state of Victoria and the Government of the day controls appointments to the Board.

Independent external advice

Each director has the right to seek independent professional advice on matters relating to our business at the Company's expense, subject to the prior approval of the Chairman.

Business risks

Established procedures at Board and management level are designed to maintain our operational viability and to safeguard our assets and interests and ensure the integrity of our reporting. These include accounting, financial reporting and internal control policies and procedures.

The operation of our Company is managed through a comprehensive set of policies, procedures and limits, which are subject to internal and external audit review. A detailed set of operating procedures and manuals for the water supply and sewerage infrastructure have been developed and are in use.

Ethical standards

Our directors acknowledge the need for the highest standards of corporate governance practices and ethical conduct by all directors, employees and contractors of the Company. The directors have adopted the Code of Conduct issued by the Australian Institute of Company Directors.