The Trustee is responsible for the overall operation of the Fund and ensuring that it operates within the rules of the Trust Deed and relevant Government legislation. The Trustee is committed to making decisions that are in the best interests of members.
There are ten Directors on the Trustee Board comprising:
four member-representative Directors appointed by the Maritime Union of Australia (MUA)
two employer-representative Directors elected by Participating Employers of the seafaring industry
two employer-representative Directors appointed by Full Participating Employers of the stevedoring industry; and
two independent Directors appointed by the other Directors under the Trustee company’s constitution.
The Trustee Board meets every two months throughout the year. The following details the Directors on the Trustee Board as at 30 June 2018. Changes are reported on our website.
Board of Directors as at 30 June 2018
Padraig Crumlin (Chair)
Employer representatives – seafaring industry
Employer representatives – stevedoring industry
Alternate member representatives
The MUA may appoint an alternate Director to act in place of any of the member representatives. At 30 June 2018, the alternative member-representative Director was:
Alternate employer representatives
The participating employers may appoint an alternate Director to act in place of employer representatives. At 30 June 2018, the alternative employer-representative Directors appointed were:
Alternate directors who left the Trustee Board during the 2017/18 financial year
Peter Raynor (resigned 23 August 2017)
Donald Sleath (retired 5 April 2018)
The Trustee Board is also assisted by the following Board Committees:
Audit and Risk Committee
Mergers and Alliances Committee; and
Nominations and Remuneration Committee.
Each of these committees has its own charter of responsibilities and reports to the Trustee Board with recommendations for full Board discussion and decision.
The Fund’s administration, accounting, communication and financial planning services are provided by Maritime Financial Services Pty Limited (MFS), which is a wholly-owned subsidiary of the Trustee and holds an Australian Financial Services (AFS) Licence (granted by ASIC, No. 241735). As an AFS licensee, MFS has arrangements in place to ensure it complies with its licence obligations.
Professional indemnity insurance
The Trustee has taken out insurance to indemnify the Directors (and other responsible officers) from loss resulting from any claim made against the Trustee for any wrongful act of the Trustee or any other person for whose wrongful act the Trustee is legally responsible. The Directors, however, are not indemnified against fines or penalties imposed by law as a result of negligent or dishonest conduct.