FUNDS SA HUMAN RESOURCES COMMITTEE CHARTER Version 5 Board approved 11 November 2007 BP26-07/08 (Version 4: Board approved 13 June 2006 BP47-05/06) (Version 3: Board approved 8 November 2005 BP20-05/06) (Version 2: Board approved 8 July 2003) (Version 1 : Board approved 21 March 2001) Next Review Due: November 2009 FUNDS SA BOARD POLICY HUMAN RESOURCES COMMITTEE CHARTER 1. INTRODUCTION The Superannuation Funds Management Corporation of South Australia Act 1995, as amended 2005 (“the Act”) provides the governing board with discretion in setting the terms and conditions of employment of its staff (section 31) and Chief Executive Officer (CEO) (section19(6)). Section 21 of the Act provides that the Board’s discretion in the performance of its administrative functions, including human resources, will be subject to the direction and control of the Minister. In order to effect such direction, the Direction must be communicated to the Corporation in writing by the Minister, included in the annual report of the Corporation, and publish in the Gazette within 7 days after the direction is given. Section 14 of the Act places an onus upon directors to ensure they discharge their duties of care etc with respect to human resource management issues. The Board has delegated operational authority for many aspects of Funds SA’s human resource management to the CEO, including: ...