Macquarie Point Development Corporation Act 2012

The Board – must establish an audit committee; and may establish such other committees as it considers appropriate.

A committee – must provide the Board with advice on any matter referred to it by the Board; and must perform any functions, and may exercise any powers, delegated to it by the Board.

In addition to its functions under subsection (2), the audit committee must provide the Board with advice on – the internal audit function of the Corporation; and monitoring the Corporation's systems of financial reporting and internal control; and the resources necessary for the performance of the internal audit function of the Corporation.

Schedule 3 has effect with respect to the members and meetings of a committee.