Introduction

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1. This Corporate Governance Charter is designed as an overarching statement of policy:
   • to prescribe a range of corporate governance principles to apply to the Company and the Group.
   • pursuant to which discrete instruments relating to matters relevant to corporate governance within the Group can be generated and incorporated as appendices to this Charter; and
   • to set forth certain protocols relating to the functions and responsibilities of the directors and executives of the Group.
2. The Group is committed to implementing high standards of corporate governance. In determining what those high standards should involve, the Company has had regard to the ASX Corporate Governance Council's Corporate Governance Principles and Recommendations (2nd Edition) ("Recommendations") so as to ensure that its practices are largely consistent with those Recommendations.
3. This Charter is intended to operate by way of a series of sections and/or appendices which may be added to or varied from time to time, the totality of which comprise this Charter. Reference to "Appendix" and "Section" in this Charter are reference to the Appendices and Sections comprising part of this Charter.
4. This Charter was formally adopted by the Board of the Company in July 2007 and may only be added to or varied by resolution of the Board. A copy of this Charter is to be kept with the Company's secretarial records and copies are also to be made available to each Director for reference purposes.
5. The Company accepts that merely by the Board adopting this Charter, does not of itself immediately ensure its cultural compliance within the Company. It is the Board's commitment over the next period to work towards the principles and policies in this Charter becoming a practical reality for the Group in all respects.

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