Hort Innovation as a Rural Research and Development Corporation
Horticulture Innovation Australia Limited (Hort Innovation) is the industry services body for the Australian horticultural industries, as declared by the Minister for Agriculture and Water Resources under the Horticulture Marketing and Research and Development Services Act 2000 (Cth).
Hort Innovation is responsible for managing and investing the levy funds received from levy payers for the benefit of 33 horticultural commodities, and matching eligible research and development contributions from the Australian Government, for the benefit of Australian horticultural industries and the Australian community. As such, Hort Innovation partners with the Australian Government to deliver research, development, and marketing services to horticultural levy payers.
Hort Innovation is not an industry representative body and does not set or execute policy on behalf of horticultural industries, nor participate in any agri-political activities.
Hort Innovation invests in research and development, and marketing to increase the productivity, farm gate profitability and global competitiveness of Australian horticultural industries. The Hort Innovation Board sets the strategic direction of the company, within the requirements of Hort Innovation’s Constitution, the Deed of Agreement with the Australian Government (Statutory Funding Agreement, the Horticulture Marketing and Research and Development Services Act 2000 (Cth), Horticulture Marketing and Research and Development Services Act 2000 (Cth), and theCorporations Act 2001 (Cth)).
The Hort Innovation Board and management are committed to the implementation of corporate governance measures that enhance performance and ensure compliance by Hort Innovation with expectations of accountability required by all applicable legislation, regulations, and guidelines such as the ASX Corporate Governance Council’s Corporate Governance Principles and Recommendations, as required by the Australian Government.
The Hort Innovation Board has established three Board subcommittees that act to guide the company, including the Investments Committee whose charter is to oversee investment of the horticultural levy funds. These committees assist the Board to implement, monitor and enforce appropriate corporate governance throughout the company.
The Hort Innovation Board delegates responsibility for the management of the company to the Chief Executive Officer.