Racing Australia Annual Report 2019

40 | RACING AUSTRALIA ANNUAL REPORT 2019 Likely Developments and Expected Results of Operations Likely developments in the operations of the consolidated entity and the expected results of those operations have not been included in this report as the directors believe, on reasonable grounds, that the inclusion of such information would be likely to result in unreasonable prejudice to the consolidated entity. Environmental Regulations The consolidated entity’s operations are not regulated by any significant environmental regulation under a law of the Commonwealth or of a State or Territory. Indemnification of Officer or Auditor During the financial year, the consolidated entity paid a premium in respect of a contract insuring the directors of the consolidated entity, the company secretary and all executive officers of the consolidated entity and of any related body corporate against a liability incurred as such a director, secretary or executive officer to the extent permitted by the Corporations Act 2001. The company has not, during or since the end of the financial year, indemnified or agreed to indemnify the auditor of the company or any related entity against a liability incurred by the auditor. Proceedings on Behalf of the Company No person has applied for leave of Court under section 237 of the Corporations Act 2001 to bring proceedings on behalf of the company or intervene in any proceedings to which the company is a party for the purpose of taking responsibility on behalf of the company for all or any part of those proceedings. The company was not a party to any such proceedings during the year. Auditor Independence Declaration The lead Auditor’s Independence Declaration required by section 307C of the Corporations Act 2001 is set out on page 41 and forms part of this report. Signed in accordance with a resolution of the Board of Directors. On behalf of the Directors Greg Nichols Chairman Dated this 12th November 2019 DIRECTORS’ REPORT