The purpose of Australia Post’s Shareholder Communication Program (Program) is to document the arrangements in place that facilitate effective communication between Australia Post and its shareholders, the Minister for Communications and the Minister for Finance (Shareholders), and both the Department of Communications and the Arts and the Department of Finance
Responsibility of Australia Post and its Subsidiaries
Australia Post is responsible for the effective operation of the Program, which facilitates communication with Shareholders on matters affecting Australia Post and/or its subsidiaries that is responsive, frank, reliable, efficient and structured.
Subsidiaries within the Australia Post Group are responsible for supporting Australia Post in operating the Program, including by providing timely and accurate information to Australia Post via both periodic and ad-hoc reporting and updates, and as requested by Australia Post from time to time.
Role of Shareholder Departments
Australia Post acknowledges the important advisory and liaison roles played by Shareholder Departments, including to advise Shareholders and to facilitate effective and efficient communication between Australia Post and Shareholders.
Without limiting or inhibiting the ability of Australia Post to communicate directly with its Shareholders where considered necessary or appropriate, Australia Post acknowledges that communication with its Shareholders will typically be coordinated via representatives from Shareholder Departments in the first instance.
The Program is primarily determined by Australia Post’s governance framework, which derives principally from the Australian Postal Corporation Act 1989 and the Public Governance, Performance and Accountability Act 2013 (PGPA Act) – and associated rules, regulations and applicable policies – as well as the Commonwealth Government Business Enterprise Governance
and Oversight Guidelines, and any documented Commercial Freedoms Framework, applicable from time to time.
Noted in particular are the obligations, under section 19 of the PGPA Act, of the Board of Australia Post – as the accountable authority of the organisation – to:
a) keep Shareholders informed of the activities of Australia Post and its subsidiaries;
b) give Shareholders any reports, documents and information in relation to those activities as Shareholders require;
c) notify Shareholders as soon as practicable after the Board makes a significant decision in relation to Australia Post or any of its subsidiaries;
d) give Shareholders reasonable notice if the Board becomes aware of any significant issue that may affect Australia Post or any of its subsidiaries; and
e) notify Shareholders as soon as practicable after the Board becomes aware of any significant issue that has affected Australia Post or any of its subsidiaries.
The Program is also guided on an in-principle basis by the Corporate Governance Principles and Recommendations (3rd edition) issued by the ASX Corporate Governance Council, and accommodates expectations relating to additional communications, notifications or reporting arrangements that may otherwise be formally requested by Shareholders from time to time.
Channels and Forums
Australia Post will communicate with Shareholders and Shareholder Departments through a range of both formal and informal communication channels and forums, including but not limited to:
- corporate planning – submission of Australia Post’s draft annual Corporate Plan for early consideration by Shareholder Departments and subsequent review by Shareholders prior to finalisation, as well as discussion between Australia Post’s Chairman and Shareholder Ministers;
- corporate reporting – submission of quarterly progress reports to Shareholders at specified times throughout each year;
- annual strategic meetings – open discussion of Australia Post’s performance over the past year and engagement on the development of strategy going forward at annual meetings;
- quarterly meetings – open discussion at quarterly meetings between representatives of Australia Post and Shareholder Departments;
- vacancies & appointments – the provision of timely information to Shareholders regarding Board vacancies, recommendations and appointments;
- fortnightly teleconferences – fortnightly teleconferences between representatives of Australia Post and Shareholder Departments;
- weekly updates – weekly updates on anticipated issues, events and government relations activity that Australia Post provides to Shareholders’ Offices and Shareholder Departments;
- proactive briefings – the provision of proactive briefings to Shareholders’ Offices and Shareholder Departments on issues that Australia Post expects may impact or be of significant interest to Shareholders;
- responsive briefings – the provision of responsive briefings to requests for information from Shareholders (and/or their Offices) or Shareholder Departments on issues arising; and ad hoc & informal queries – responding to ad hoc and informal queries from Shareholders (and/or their Offices) or Shareholder Departments on a day-to-day basis.
Last updated (version): June 2017