Governance of the Purple Sand Development Trust
Governance of the Trust is overseen by the Trustee, which will hold investment assets on trust for investors, including property, funds invested, rental income and capital earnt by the trust. In accordance with financial services licensing regulations, investors funds and assets will always be held separately from operations accounts.
The Trustee supervises the operations of the Investment Manager including receiving and reviewing proposals to fund the investment operations of the Trust. The Review Committee of the Trust, which is staffed by Responsible Managers of the Trustee, is tasked with the responsibility to review and question or approve the proposals submitted by the Investment Manager.
Reporting and Regulatory Supervision
The Investment Manager report regularly to the Trustee on the progress and performance toward the targets of the Trust. This reporting is in addition to the transparency the Trustee has in the operations of the Trust.
The Trustee submits to annual audit by the Auditor, Grant Thornton, which has audited CTS since 2012. The Auditor must sign an audit report to the regulator, ASIC, on an annual basis. Together these processes and measures bring scrutiny and transparency to the operations of the Trust and support the detailed and conservative approach to the work that we do.