Corporate Governance

The establishment of a sound framework of corporate governance and the implementation of the corresponding governance culture and processes throughout RCL is one of the primary responsibilities of the Boards. The Boards recognise that they are accountable to securityholders for the performance of RCL, and to that end, are responsible for instituting and ensuring RCL maintains a system of corporate governance that operates in the best interests of securityholders whilst also addressing the interests of other key stakeholders. A comprehensive corporate governance framework and good governance policies and procedures can add to the performance of RCL, the creation of securityholder value and engender the confidence of the investment community.

The ASX’s Limited’s Corporate Governance Council issued in August 2007 a revised set of guidelines entitled Corporate Governance Principles and Recommendations. These guidelines articulate eight core principles (“ASX Principles”) that the Council believes underlie good corporate governance, together with 27 recommendations (“ASX Recommendations”) for implementing effective corporate governance.

The ASX Listing Rules require listed entities such as RCL to include a statement in their annual report disclosing the extent to which they have followed the eight ASX Principles and 27 ASX Recommendations during the reporting period, identifying any ASX Recommendations that have not been followed and giving reason for that variance. RCL's Corporate Governance Statement is structured with reference to the ASX Recommendations.

Click to download PDF version of the RCL 2011 Corporate Governance 2011