Moorebank Intermodal Company Limited is an unlisted public company incorporated and domiciled in Australia. It is a company limited by shares and is wholly owned by the Government of the Commonwealth of Australia (“Commonwealth Government”). MIC is a Government Business Enterprise, incorporated under the Corporations Act 2001 and operating under the Public Governance, Performance and Accountability Act 2013. The Company was incorporated on 13 December 2012. The ultimate controlling entity of the Group is the Commonwealth Government.
The shareholder ministers are the Hon Alan Tudge MP, Minister for Population, Cities and Urban Infrastructure (being the responsible minister) and Senator the Hon Mathias Cormann, Minister for Finance.
MIC regularly reports to its shareholder ministers, in compliance with the PGPA Act and the GBE Guidelines. Under the GBE Guidelines, MIC submitted its 2019–23 Corporate Plan and Statement of Corporate Intent to its shareholder ministers in August 2019. MIC will continue to provide an updated Corporate Plan and Statement of Corporate Intent to its shareholder ministers on an annual basis.
MIC’s Annual Report is submitted to the responsible minister in accordance with section 97 of the PGPA Act. The Auditor-General is required by the PGPA Act to audit the financial report of MIC. The Australian National Audit Office (ANAO) assists the Auditor General in performing those functions.
As a GBE, MIC is subject to Parliamentary scrutiny and is required to keep shareholder ministers\ informed of activities, issues and decisions affecting the company.