Corporate Governance Statement
IBA Health Limited (“IBA” or “Company”) and the board are committed to achieving and demonstrating the highest standards of corporate governance, consistent with the size and nature of the Company. This Statement outlines the Company’s main corporate governance practices as at 30 June 2004. All these practices, unless otherwise stated, were in place for the entire year.
The Company considers that it has substantially met the best practice recommendations released by the Australian Stock Exchange Corporate Governance Council in March 2003 (“ASX Recommendations”). In those circumstances where the Company has not followed an ASX Recommendation, the Company considers that the recommendation is not appropriate for a company of IBA’s size and nature. Also, this Statement provides additional explanation why the Company has departed from particular ASX Recommendations.
Key features of the statement of responsibilities reserved to the board and the charters of the Audit and Compliance Committee and the Appointments and Compensation Committee will be made available in a Corporate Governance section of the Company’s website during the 2005 financial year. Further information will be posted to that website from time to time as considered necessary or relevant to shareholders.