Long service leave in black coal mining for employers

Long service leave in black coal mining for employers

Operational management

Section: Operations overview

Overview

As a corporate Commonwealth entity, Coal LSL is subject to the Public Governance, Performance and Accountability Act 2013 (PGPA Act).

The basis of management is determined by Coal LSL’s governing legislation and policies approved by the Board of Directors. Coal LSL’s policies include an investment policy and investment strategy for the investment of the fund’s assets.

Specialist services such as internal audit, actuarial services, legal counsel and asset consultants are retained under contract on an as-required basis.

For risk management, all investments are held by the Master Custodian who is also responsible for ensuring that investment managers only invest in accordance with the strict investment strategy given to them by Coal LSL.

Coal LSL is subject to a range of accountability and reporting obligations, some of which are outlined in the following pages.

Section: Board of Directors

Board of Directors

The Board of six directors manage the Fund’s administration and is appointed by the responsible federal minister. Directors hold office on a part-time basis and comprise:

  • One Director appointed to represent the companies engaged in black coal mining in New South Wales or Tasmania.
  • One Director appointed to represent the companies engaged in black coal mining in Queensland.
  • One Director appointed to represent companies engaged in black coal mining in Western Australia.
  • Two Directors appointed to represent the Mining and Energy Division of the Construction, Forestry, Mining and Energy Union.
  • One Director appointed to represent the following organisations: a) Communications, Electrical, Electronic, Energy, Information, Postal, Plumbing and Allied Services Union of Australia b) Automotive, Food, Metals, Engineering, Printing and Kindred Industries Union c) Association of Professional Engineers, Scientists and Managers Australia d) Colliery Officials Association of New South Wales e) Mine Managers Association of Australia.

More information about our Board is available in the latest annual report.

Section: Service providers

Service providers

Coal LSL engages a range of professional organisations, in addition to investment managers, to assist in administering the Fund.

Service
Accounting
Banking
Master Custodian (of Investments)
Asset Consultant
Auditing
Provider
Mercer Consulting
Commonwealth Bank of Australia
JP Morgan Investor Services
Frontier Advisors Pty Ltd
Australian National Audit Office, PricewaterhouseCoopers Newcastle
Section: Contracts

Contracts

Under Senate Order 13, Commonwealth entities are required to be transparent about contracts with a value of $100,000 (including GST) or more and which:

  • Have not been fully performed as at 30 June 2019, or
  • Have been entered into during the 12 months prior to 30 June 2019.
Section: Created files

Created files

As a corporate Commonwealth entity, Coal LSL is subject to the Harradine Motion, a Senate Order that was passed in May 1996 to make government operations more transparent to the Australian public.

The Harradine Motion requires each Minister in the Senate, in respect of each department or agency administered by that Minister, to table a letter of advice before parliament which states that an indexed list of the titles of all relevant files created by the department or agency in the preceding six months has been placed on the internet.

This means we are required to submit a return twice a year. Additionally, we are required to provide access to an indexed list of the names of relevant files created relating to policy advising functions, the development of legislation and matters of public administration.

There were no files created during 2018–19. The following files were created in previous reporting periods:

  • Coal Mining Industry (Long Service Leave) Payroll Levy Regulations 2018
  • Coal Mining Industry (Long Service Leave) Administration Regulations
  • Employer Reimbursement Rules 2017
  • Employer Reimbursement Rules 2017 – Explanatory Statement
  • Reimbursement Rules Issue Paper
  • Timeline – Amending the Employer Reimbursement Rules
  • OBPR Preliminary Assessment Form.
Section: Digital annual reporting

Digital annual reporting

In 2019 the PGPA Rule was amended to require all Commonwealth entities to publish their annual report using a digital annual reporting tool (DART) administered by the Finance Minister. The DART collates and publishes reports to one web page, Transparency Portal. A copy of Coal LSL’s digital annual report can be found there. Currently, an additional hard copy is also required to be tabled in Parliament, as per previous years.

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02. Policies and practices

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