The Purpose of this Policy
1. This policy is issued by the National Space Flight Foundation Limited (the NSFF) applies to financial reports to members at AGM, and member requests for access to financial records.
2. This policy describes how the NSFF provides access to financial records to members.
Policy
3. This policy applies to:
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all documents lodged with the Australian Securities Investment Commission;
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statements of account, including invoices;
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receipts (which are not machine-produced);
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orders for goods and services
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business letterheads;
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official company notices;
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cheques, promissory notes and bills of exchange; and
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written advertisements making a specific offer.
This policy is used by the CEO (financial reports to members), and Directors (member requests for access to financial records). The Custodian of this policy is the Chair of the Board.
Reference Material
4. This section lists any documents referred to in this policy that specify further requirements or provide guidance. Reference documents should be read in conjunction with this policy.
(a) ACNC Governance standard 2 – Accountability to members.
(b) Constitution Section 22.2.
Records
Records provide documentary evidence of compliance with this procedure to interested parties such as Clients and Auditors.
(1) Minutes of AGM
(2) Records of Requests for access to financial information and Directors response.
The Policy
5. AGM
Even if these items are not set out in the notice of meeting, the business of an annual general meeting may include:
(a) a review of the company’s activities;
(b) a review of the company’s finances; and
(c) any auditor’s report.
The policy is that the business shall include those items unless the CEO provides to the Directors sound reasons for excluding them.
6. Members request for access to financial records.
Members should approach the CEO informally in the first instance if they require access to the NSFF’s financial records. The CEO may at their discretion provide the balance of one or more individual accounts.
If a member requests further access to financial records the CEO will provide either the most recent report to Directors or an updated version of that report prepared by the CEO. Such report shall be edited by the CEO at the CEO’s discretion to remove any sensitive information.
The CEO in his/her consideration of the extent of information to be provided shall ensure that the member is not provided with information that would provide a commercial advantage in their dealings with the NSFF. For example if the member were to be bidding on a tender to the NSFF.