2016-08-09 Services & Organisation Committee Agenda

SERVICES & ORGANISATION COMMITTEE MEETING AGENDA   9 AUGUST 2016




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SERVICES & ORGANISATION COMMITTEE MEETING AGENDA                                                   9 AUGUST 2016

           COUNCIL POLICY - Related Party Disclosures

           3       IDENTIFICATION OF KEY MANAGEMENT PERSONNEL

            KMP are defined in AASB 124 as those persons having authority and responsibility for planning,
           directing and controlling the activities of the entity, directly or indirectly, including any director
           (whether executive or otherwise) of that entity.
            In the context of Noosa Council, KMP are considered to include:
           (i)  The Mayor and Councillors;
           (ii) The CEO; and
           (iii) Senior executive employees, being those staff required to complete a register of interests in
                   accordance with the Local Government Regulation 2012.

           4       IDENTIFICATION OF RELATED PARITES

            Having regard to the definitions contained in the AASB 124, a related party is a person or entity that
           is related to Noosa Shire Council as outlined below.
           4.1     Persons considered to be related to Noosa Council
           A person or a close member of that person’s family is related to Noosa Council if that person:
           (i)  Has control or joint control of Noosa Council;
           (ii) Has significant influence over Noosa Council; or
           (iii) ls a member of the KMP of Noosa Council.
           A close member of the family of a person, are those family members who may be expected to
           influence, or be influenced by, that relevant person in their dealings with Noosa Council and include:
           (i)  That person’s children and spouse or domestic partner;
           (ii) Children of that person’s spouse or domestic partner; and
           (iii) Dependants of that person or that person’s spouse or domestic partner.
            Practical Examples of Related Persons
            Below are some practical examples of possible related persons to Noosa Council:
           e   The children of a member of Noosa Council’s KMP.
           e   The spouse or domestic partner of a member of Noosa Council’s KMP.
           e   The children of a spouse or domestic partner of a member of Noosa Council's KMP
           4.2     Entities considered to be related to Noosa Council
           An entity is considered related to Noosa Council if any of the following conditions applies:
           (i)  The entity and Noosa Council are members of the same corporate group (which means that
                   each parent, subsidiary and fellow subsidiary is related to the others).
           (ii) One entity is an associate or joint venture of the other entity (or an associate or joint venture of
                   a member of a group of which the other entity is a member).
           (iii) Both entities are joint ventures of the same third party.
           (iv) One entity is a joint venture of a third entity and the other entity is an associate of the third entity.
           (v) The entity is a post-employment benefit plan for the benefit of employees of either Noosa Council
                   or an entity related to Noosa Council.
           (vi) The entity is controlled or jointly controlled by a person related to Noosa Council (outlined
                   above).

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