corporate governance
CORPORATE GOVERNANCE
INTRODUCTION
This corporate governance statement describes our corporate governance framework, policies and practices as at 4 November 2013.
Framework and approach
Our approach to corporate governance is based on a set of values and behaviours that underpin day-to-day activities, provide transparency and fair dealing, and seek to protect stakeholder interests.
This approach includes a commitment to excellence in governance standards, which Westpac sees as fundamental to the sustainability of our business and our performance. It includes monitoring local and global developments in corporate governance and assessing their implications.
We have equity securities listed on securities exchanges in
Australia, New Zealand and the United States.
Australia
We comply with the ASX Corporate Governance Principles and Recommendations (ASXCGC Recommendations) published by the ASX Limited’s Corporate Governance
Council (ASXCGC). We must also comply with the
Corporations Act and as an ADI must comply with governance requirements prescribed by APRA under
Prudential Standard CPS 510 (Governance).
This statement addresses each of the eight ASXCGC
Recommendations with an explanation of our corporate governance practices, demonstrating our compliance with each Recommendation. A checklist summarising our compliance is included at the end of this statement.
Further details about the ASXCGC Recommendations can be found on the ASX Limited (ASX) website www.asx.com.au. New Zealand
Westpac also has ordinary shares quoted on the NZSX, which is the main board equity security market operated by
NZX Limited (NZX). As an overseas listed issuer in New
Zealand, we are deemed to satisfy and comply with the
NZSX Listing Rules, provided that we remain listed on the
ASX and comply with the ASX Listing Rules.
The ASX, through the ASXCGC Recommendations, and
NZX, through the NZX Corporate Governance Best Practice
Code, have adopted similar
INTRODUCTION
This corporate governance statement describes our corporate governance framework, policies and practices as at 4 November 2013.
Framework and approach
Our approach to corporate governance is based on a set of values and behaviours that underpin day-to-day activities, provide transparency and fair dealing, and seek to protect stakeholder interests.
This approach includes a commitment to excellence in governance standards, which Westpac sees as fundamental to the sustainability of our business and our performance. It includes monitoring local and global developments in corporate governance and assessing their implications.
We have equity securities listed on securities exchanges in
Australia, New Zealand and the United States.
Australia
We comply with the ASX Corporate Governance Principles and Recommendations (ASXCGC Recommendations) published by the ASX Limited’s Corporate Governance
Council (ASXCGC). We must also comply with the
Corporations Act and as an ADI must comply with governance requirements prescribed by APRA under
Prudential Standard CPS 510 (Governance).
This statement addresses each of the eight ASXCGC
Recommendations with an explanation of our corporate governance practices, demonstrating our compliance with each Recommendation. A checklist summarising our compliance is included at the end of this statement.
Further details about the ASXCGC Recommendations can be found on the ASX Limited (ASX) website www.asx.com.au. New Zealand
Westpac also has ordinary shares quoted on the NZSX, which is the main board equity security market operated by
NZX Limited (NZX). As an overseas listed issuer in New
Zealand, we are deemed to satisfy and comply with the
NZSX Listing Rules, provided that we remain listed on the
ASX and comply with the ASX Listing Rules.
The ASX, through the ASXCGC Recommendations, and
NZX, through the NZX Corporate Governance Best Practice
Code, have adopted similar