Governance

The Forrest Research Foundation at The University of Western Australia

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Constitution of the Forrest Research Foundation at The University of Western Australia.

Constitution

Name

1. The name of the Foundation is 'The Forrest Research Foundation at The University of Western Australia'. The Foundation has been established following the donation of $65 million, over 10 years, by Andrew and Nicola Forrest through the Minderoo Foundation, as Trustee of the Forrest Family Foundation. Their donation is to assist Western Australia in becoming a world-class centre of research and innovation through attracting the next generation of outstanding intellects to this State, to pursue either doctoral studies or a postdoctoral fellowship.

Definitions

2. In this constitution:

  • 'Foundation' means The Forrest Research Foundation at The University of Western Australia.
  • 'The Act' means the University of Western Australia Act 1911.
  • 'University' means The University of Western Australia as constituted by the Act.
  • 'Senate' means the Senate of the University.
  • 'Governors' means the Governors of the Foundation, as appointed by Senate (see clause 5).

Words importing the singular number include the plural and vice versa.

Powers

3. The objects of the Foundation shall be to assist the Senate and the Vice-Chancellor in all matters associated with the terms of the Deed of Gift dated the 15th October 2013 between the Minderoo Foundation and The University of Western Australia.

The control, management and conduct of the business and affairs of the Foundation shall be vested in the Governors of the Foundation whose acts, decisions, directions, promises and agreements shall not be binding on the University until ratified by the Senate. The Governors may appoint standing or ad-hoc committees to assist the board or its committees from time to time. Notwithstanding this clause, the Senate may waive the requirement of ratification both in relation to specific matters or generally. No such waiver shall be effective until it has been communicated in writing by the Vice-Chancellor to the Governors.

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Governors of the Foundation

4.(a) The Governors of the Foundation shall consist of:

(i) the Chancellor of The University of Western Australia (ex officio);

(ii) the Vice-Chancellor of The University of Western Australia (ex officio);

(iii) two representatives of the Minderoo Foundation;

(iv) two Vice-Chancellors from the other Western Australian universities, selected on each rotation by the Governors;

(v) two members of the broader community, one of whom should have been a Rhodes or Monash or Forrest scholar; and

(vi) The Warden (ex officio).

(b) The committee of Governors shall elect one of their members as Chair.

(c) The Governors shall meet in committee no fewer than four times per annum.

(d) The terms of each Governor, other than those ex officio, shall normally be for three years, with the option of renewal.

(e) Five Governors shall constitute a quorum.

(f) All Governors are eligible to vote.

(g) A Governor or a member of committee may retire during his or her term, and in addition may be removed from office on a resolution passed by the Governors at a meeting convened for the purpose, of which no less than 21 days' written notice shall have been given. A quorum must be present.

(h) The Governors shall cause minutes to be kept and recorded of all meetings and resolutions of the Governors' committee and of the sub-committees.

(i) The Governors shall provide a detailed annual report to the Senate and to the Minderoo Foundation.

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Objects

5. The Deed of Gift specifies that The University of Western Australia will—

(a) establish the Forrest Research Foundation with an investment corpus of $50,000,000.00 (Fifty million Australian dollars) which will be invested to generate income to—

(i) provide scholarships including PhD scholarships to qualified students who propose to undertake high quality research at a Western Australian university, to be known as 'Forrest Scholars';

(ii) provide fellowships including postdoctoral fellowships to qualified researchers (to be known as 'Forrest Fellows') for the purpose of allowing them to conduct high quality research at a Western Australian university;

(iii) for the avoidance of doubt, a Western Australian university includes each of the following:

  • The University of Western Australia;
  • Curtin University;
  • Murdoch University;
  • Edith Cowan University; and
  • The University of Notre Dame (Fremantle or Broome campus).

(iv) draw such researchers from international and domestic applicants who demonstrate qualities such as outstanding academic ability and the potential to change the world.

(v) do such other acts as will reflect the vision identified in clause 1; and

(vi) administer the Forrest Research Foundation in accordance with this constitution.

(b) through the Governors of the Foundation—

(i) safeguard the overall reputation of the Foundation;

(ii) set the strategic direction for the Foundation, in accordance with the Deed of Gift;

(iii) establish the policy framework for the Foundation;

(iv) provide oversight of the management of the Foundation's fund and ensure the appropriate annual auditing of the accounts;

(v) establish an inaugural Selection Committee as per clause 5(c) below comprising:

  • not fewer than four eminent scholars and three eminent members of the community, appointed by the Governors of the Foundation (including candidates jointly recommended by the Chair of the Selection Committee and the Vice-Chancellor of the University of Western Australia);
  • Dr Andrew Forrest and Dr Nicola Forrest as standing members, ex-officio of the committee. Should both Dr Andrew Forrest and Dr Nicola Forrest be unable to attend, the CEO of the Minderoo Foundation may attend on their behalf.
  • The Deputy Vice-Chancellor, Research, of The University of Western Australia, as a standing member ex-officio of the committee

(vi) appoint an inaugural Chair and subsequent Chairs of the Selection Committee;

(vii) approve the selection criteria and scholarship conditions under which the Selection Committee will select and award recipients of the Foundation Scholarships;

(viii) establish a Finance and Investments Committee as per clause 5(d) below comprising not fewer than five eminent persons qualified to perform the proper oversight of the financial performance of the Foundation and develop stringent internal controls and standards;

(ix) appoint the inaugural and subsequent Chairs of the Finance and Investments Committee;

(x) approve the Finance and Investments Committee's investments plan, 10-year financial plan, risk management and compliance frameworks and all prudent arrangements for audit, governance and review;

(xi) oversee the Foundation's Warden, as per clause 5(e) below, who will be responsible for the day-to-day operations and administration of the Foundation, including its scholarship and fellowship program; and

(xii) undertake such other responsibilities or amended responsibilities as required.

(c) through the Foundation's Selection Committee—

(i) develop and recommend to the Foundation Governors the selection criteria that will govern the award of the Forrest Scholarships and Forrest Fellowships, including any changes to criteria that might be appropriate from time to time;

(ii) refer the successful scholarship and fellowship recipients for each year to the Foundation Governors for endorsement;

(iii) maintain an overview of the progress of previous scholarship and fellowship recipients, through advice from the Warden;

(iv) recommend to the Governors potential new members for the Committee prior to the expiry of the term of service of any member;

(v) make observations, from time to time, as regards the financing of the scholarships and fellowships, for the Governors' consideration;

(vi) recommend to the Governors appropriate strategies for the marketing and promotion of the scholarships and fellowships scheme;

(vii) meet at least twice per year; and

(viii) recommend from time to time new members for the committee. Committee members will ordinarily serve a three-year term on the committee, renewable to a maximum of nine years.

The Governors may wish to discuss potential members with the committee, through the Committee Chair, and for resolution by consensus.

(d) through the Foundation's Finance and Investments Committee—

(i) develop a 10-year rolling financial plan, for recommendation to the Governors, and monitor achievement against the plan;

(ii) advise the Governors on the most effective investment strategies for the Foundation's funds and to report on outcomes against those strategies;

(iii) monitor performance, controls, and compliance in accordance with University audit requirements and broader financial governance protocols;

(iv) implement the Foundation's risk management framework and compliance with that framework;

(v) meet in person or by electronic means at least quarterly to receive the quarterly accounts; and

(vi) recommend to the Governors, from time to time, replacement new members for the committee. Committee members will ordinarily serve a three-year term on the committee, renewable to a maximum of nine years.

The senior Finance Officer of The University of Western Australia should be a standing member, ex officio, of the committee.

The Governors may wish to discuss potential members with the committee, through the Committee Chair, and for resolution by consensus.

(e) through the Foundation's Warden—

take responsibility for the day-to-day implementation of the scholarship and fellowship scheme, including:

(i) oversee the marketing and promotion of the scheme internationally so as to attract a field of outstanding scholars to the program;

(ii) oversee the management of the application process, in conjunction with the scholarships offices of the universities involved;

(iii) oversee liaison with the scholarships offices of the universities involved to ensure that support is provided to the Selection Committee as required;

(iv) provide pastoral care to scholarship recipients, support to their supervisors, and support for postdoctoral fellows where required;

(v) liaise with St George's College to enable doctoral students to undertake mentoring and/or paid tutoring at the College;

(vi) liaise with St George's College to build linkages with College programs as appropriate;

(vii) build the 'Forrest Foundation community' through liaison with alumni of the program;

(viii) solicit donations, gifts and bequests to the Foundation on behalf of the University;

(ix) authorise public statements and publications issued in the name of the Foundation;

(x) arrange for lectures, exhibitions and demonstrations;

(xi) assist in arranging visits to the University by distinguished guests;

(xii) subject to consultation with the Governors, enter into any arrangement with any organisation having objects similar to those of the Foundation; and

(xiii) do all such things as are incidental or conducive to the attainment of the above objects or any of them.

The Warden shall have a reporting relationship to the Vice-Chancellor of The University of Western Australia.

The Warden may, from time to time, take a recommendation to the Governors for the engagement of administrative support for the Foundation, for their approval.

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Funds

6. All moneys received, by or on behalf of, or as a result of the activities of the Foundation, shall be vested in the University absolutely and not on trust. The monies shall be held by the University in a fund to be known as the Forrest Research Foundation Fund. The capital and the income of the Fund will be invested and expended as the Senate, on advice of the Governors, shall think fit for the promotion of the objects of the Foundation.

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Amendment

7(a) This constitution may be added to, amended or repealed by resolution of the Senate.

(b) The Senate may dissolve the Foundation on the advice of the Governors. In the event of dissolution of the Foundation the Forrest Research Foundation Fund shall be used for such charitable purposes as the Senate shall reasonably determine, on advice from the Governors, and provided that the terms of the Deed of Gift are observed as closely as possible.

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