Racing Australia Annual Report 2019

RACING AUSTRALIA ANNUAL REPORT 2019 | 37 Your directors present their report, together with the financial statements on the consolidated entity (referred to hereafter as the ‘consolidated entity’) consisting of Racing Australia Limited (referred to hereafter as the ‘company’ or ‘parent entity’) and the entities it controlled at the end of or during the year ended 30 June 2019. Directors The names of each person who has been a director during the year and to the date of this report are: Position Directors Appointed Resigned RV Nominated Director and Chairman Greg Nichols (Appointed Chairman - 12 April 2019) Brian Kruger – Alternate Director RNSW Nominated Director Russell Balding AO Peter V’landys AM – Alternate Director RQ Nominated Director Steven Wilson AM Brendan Parnell – Alternate Director RWWA Nominated Director Jefferey Ovens 1 August 2018 Robert Pearson 31 July 2018 Robert Bransby – Alternate Director 1 August 2018 6 June 2019 Richard Burt – Alternate Director 6 June 2019 TRSA Nominated Director Frances Nelson QC (Resigned Chair - 12 April 2019) James Watters – Alternate Director TRNT/CRC/TR Nominated Director Ian Mackay 12 April 2019 Dean Cooper 12 April 2019 Stephen Heppenstall - Alternate Director 21 June 2019 Company Secretary Matthew Orr Directors have been in office since the start of the financial year to the date of this report unless otherwise stated. Principal Activities The consolidated entities principal activity in the course of the financial year was the provision of racing materials, services and products to the state based Principal Racing Authorities and race clubs of Australia, the supply of field and form products to Racing Australia’s commercial and retail customers, officially recording the ownership details and naming of Thoroughbred racehorses for racing in Australia and for export, the maintenance, accuracy, quality and integrity of the Australian Stud Book, and the administration of the Australian Rules of Racing and the rules of the Australian Stud Book. The Thoroughbred Trainers Service Centre Limited provides low cost industry based horse syndication services under the conditions of an Australian Financial Services Licence (AFSL). On 23 April 2018, Racing Australia Limited established the Equine Genetics Research Centre (EGRC) in Scone to undertake DNA profiling, diagnostic testing and research and development primarily for the Thoroughbred racing industry, but also extending to other breed societies. The EGRC is an International Society of Animal Genetics (ISAG) accredited laboratory achieving Rank 1 with 100% genotyping accuracy. Rank 1 is necessary to allow parentage verification of Thoroughbreds for the International Stud Book Committee. Short Term and Long Term Objectives Racing Australia’s Vision • To be Australia’s favourite sport. • To conduct the world’s best races. • To be the world’s leading Thoroughbred Racing Industry. Core objective Leverage existing assets further and identify new commercial opportunities. Core functions • National Rules • National Integrity • National and International Advocacy • National Coordination • National Research and Analysis • Identify and Maximise Best Practice • National Efficiency/Back Office • Recognise and reward excellence in the industry • Communicate our role • Seek to identify emerging issues including Animal Welfare and provide leadership via a common policy approach including minimum standards. DIRECTORS’ REPORT