Page 35 - Icon Energy 2014 Annual Report

DIRECTOR’S REPORT
ENVIRONMENTAL REGULATION
The consolidated entity’s operations are subject to various environmental regulations. The Company has a policy of
at least complying, but in most cases exceeding environmental performance obligations. Further information on the
Company’s environmental performance can be found in the Sustainability section of this Annual Report.
The Directors are not aware of any environmental breaches nor has the Company 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 Howarth, the Company’s auditor, has the
benefit of indemnity to the extent Crowe Howarth reasonably relies on information provided by the Company which is
false, misleading or incomplete. No amount has been paid under this indemnity during the period ended 30 June 2014 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 $24,479.61 (30 June 2013: $25,135.54).
NON-AUDIT SERVICES
The auditors did not perform any non-audit services during the year (2013: none)
There are no officers of the Company who are former audit partners of Crowe Horwath.
Assurance of Section 295A Declaration
The Board of Directors has received assurance from the Managing Director and the Chief Financial Officer that the
declaration provided in accordance with Section 295A of the Corporations Act 2001 is founded on a sound system of
risk management and internal control and that the system is operating effectively in all material respects in relation to
financial reporting risks.
ABN 61 058 454 569 ICON ENERGY LIMITED 2014 Annual Report 35