text: Corporate Governance Practices 
  〉〉 
  
  other Director who has held office (without 
  re-election) for three years or more must also 
  retire from office. The Directors to retire at any 
  Annual General Meeting must be those who have 
  been in office the longest since their last election. 
  The retirement of Directors who were elected on 
  the same day, must be determined by lot (unless 
  they agree otherwise between themselves). 
  A retiring Director is eligible for re-election. 
  
  approving and monitoring the progress of 
  major capital expenditure, capital manage- 
  ment and acquisitions and divestitures; 
  
  This statement provides an outline of the main 
  corporate governance policies and practices 
  that the Company had in place during the 
  financial year. 
  
  〉〉 
  approving and monitoring financial and other 
  reporting; 
  
  〉〉 
  appointing, terminating and reviewing the 
  performance of the Managing Director; 
  
  The Board places considerable importance on 
  high standards of ethical behaviour, governance 
  and accountability. The Board is committed to 
  ensuring its corporate governance policies 
  adhere, as much as is practicable, to the ASX 
  Corporate Governance Council’s Corporate 
  Governance Principles and Recommendations. 
  
  〉〉 
  ratifying the appointment and the termina- 
  tion of senior executives; 
  
  〉〉 monitoring senior executives’ performance 
  and implementation of strategy; and 
  
  〉〉 