Icon Energy Annual Report 2019
ENVIRONMENTAL REGULATION The Consolidated Entity’s operations are subject to various environmental regulations. The Company has a policy of full compliance, but in most cases exceeding environmental performance obligations. Further information on the Group’s environmental performance can be found in the Sustainability section of the 2019 Annual Report. The Directors are not aware of any environmental breaches nor has the Group been notified of any breaches by any Government Agency during the financial period. PROCEEDINGS ON BEHALF OF THE COMPANY No person has applied to the Court under section 237 of the Corporations Act 2001 for leave to bring proceedings on behalf of the Company, or to 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. DIRECTORS AND AUDITORS INDEMNIFICATION The Directors and Company Secretary are indemnified by the Company against any liability incurred in their capacity as an officer of the Company or a related body corporate to the maximum extent permitted by law. The Company has not paid any premiums in respect of any contract insuring the Directors of the Company against a liability for legal costs. The Company has not paid any premiums in respect of any contract insuring the auditor against a liability incurred in the role as an auditor of the Company. In respect of non-audit services, Crowe, the Company's auditor, has the benefit of indemnity to the extent Crowe reasonably relies on information provided by the Company which is true, accurate and complete. No amount has been paid under this indemnity during the period ended 30 June 2019 or to the date of this Report. Details of the nature of the liabilities covered in respect of Directors’ and Officers’ insurance policies are not disclosed as such disclosure is prohibited under the terms of the contracts. The total premium expense for the year was $32,102 (30 June 2018: $31,029). NON-AUDIT SERVICES The auditors did not perform any non-audit services during the year. There are no officers of the Company who are former audit partners of Crowe. LEAD AUDITOR’S INDEPENDENCE DECLARATION UNDER SECTION 307C OF THE CORPORATIONS ACT 2001 The lead auditor’s independence declaration is set out on page 34 and forms part of the Directors’ Report for the period ended 30 June 2019. Crowe continues in office in accordance with Section 327 of the Corporations Act 2001 . Signed in accordance with a resolution of the Board of Directors of Icon Energy Limited. S M Barry R S James Chairman Managing Director 30 September 2019 30 September 2019 27 Icon Energy Annual Report 2019
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