Governance Governance Structure
Read about Opportunity International Australia's governance structure.
The Board of Directors is responsible for the governance of Opportunity and is accountable to Opportunity’s members and other stakeholders for protecting and enhancing the overall interests of the company.
Members of Opportunity must be proposed by the Appointments and Compensation Committee, seconded by a Member who knows the nominee and approved by the Board. All Directors are Members and are entitled to retain their membership after completing their Director duties.
As of November 2020, Opportunity had 30 Members comprised primarily of past and present Directors and our founder, David Bussau. Members are invited to attend the Annual General Meeting at which the financial report for the prior year is received and Members vote on the election of Directors.
Members undertake to contribute to the assets of the company in the event it is wound up (to a maximum liability of $100). If any property remains on the winding up after all debts and liabilities are paid, that property may not be paid to or distributed among the Members but must be given to not-for-profit, public benevolent institutions having similar objectives to Opportunity.
The detail of some Board functions is handled through Board committees. However, the Board as a whole is responsible for determining the extent of powers delegated to each committee and is ultimately responsible for accepting or rejecting committee recommendations.
The Board has established three standing committees; the Audit and Risk Committee; the Appointments and Compensation Committee and the Revenue Committee. Each committee has its own Charter outlining its purpose, powers as delegated by the Board, composition and reporting requirements. The Board has delegated the responsibility of management, operation and administration of the business to the management leadership team, with whom it has open access to discuss current and future business issues, risks and strategies. The Board oversees the activities of management to ensure these delegated duties are carried out as directed.