G10; Consolidated Entity
This policy outlines the structure and purpose of the Victorian Farmers Federation (VFF) consolidated corporate entity. The VFF, a prestigious and influential body within the Australian agricultural sector, comprises several key entities, each serving distinct yet complementary roles. These include the VFF Property Trust Limited, Victorian Farmers Federation Ltd, Farrer House Ltd and the Disaster Relief Fund Limited. This policy elucidates the purpose and inter-relationship of these entities, ensuring transparency, efficiency and alignment with the overarching mission of the VFF.
1. Victorian Farmers Federation Property Trust Ltd
1.1 PURPOSE
1.1.1. VFF Property Trust Ltd operates as the bare trustee of the VFF. This entity ensures legal compliance and effective governance in the management of the VFF’s assets.
1.1.2. VFF Property Trust Ltd is Trustee to the Victorian Farmers Federation Disaster Relief Fund (VFF DRF).
1.2 ELEMENTS
1.2.1. The company acts as trustee of real and or personal property and is responsible as trustee for overseeing property-related decisions, legal obligations, and financial transactions of the VFF, adhering to relevant laws and regulations.
1.2.2. The company acts as trustee of the VFF DRF and is responsible for ensuring the VFF DRF received and distributes funds per provisions of the VFFDRF Trust Deed.
2. Victorian Farmers Federation Ltd
2.1 PURPOSE
2.1.1. Victorian Farmers Federation Ltd functions as the primary operational body of the VFF. It focuses on advocacy, member services, and the development of policies that benefit the agricultural community in Victoria.
2.2 ELEMENTS
2.2.1. This entity encompasses member engagement, policy formulation, advocacy activities, and coordination of resources across the VFF’s various arms.
3. Farrer House Ltd
3.1 PURPOSE
3.1.1. Farrer House Ltd was formed to purchase freehold property at 24 – 28 Collins St Melbourne and to construct offices, shops and other accommodations.
3.2. ELEMENTS
3.2.1. The company is responsible for managing the building. The company provided a 99 year lease to VFF and operates as the Head Lessor in any subleases between VFF (lessee) and any commercial building tenant (sublessee).
4. Victorian Farmers Federation Disaster Relief Fund
4.1 PURPOSE
4.1.1. VFF Disaster Relief Fund is established to provide immediate and effective assistance to farmers and rural communities affected by natural disasters.
4.2. ELEMENTS
4.2.1. This includes fund management, allocation of resources for relief efforts, and coordination with government and non-government organisations for effective disaster response and recovery.
4.2.2. VFFDRF is endorsed by ATO to be a Deductable Gift Recipient.
5. Governance and integration
5.1 Each entity within the VFF consolidated corporate structure operates under strict governance protocols, ensuring accountability, transparency, and alignment with the federation’s overarching goals. Regular audits, performance reviews, and strategic planning sessions are conducted to maintain efficacy and coherence among these entities.
5.2. Directors appointed to the VFF Ltd are separately appointed to the other entities.
6. Conclusion
6.1 The structure of the VFF consolidated corporate entity is designed to effectively address the diverse needs of Victoria’s farming community. Through specialised yet integrated entities, the VFF continues to advocate for, support, and advance the interests of farmers and the agricultural sector at large.
7. Accountability
VFF CHAIR
VFF CEO
8. Related policies / procedures
G1: Strategy and Policy Framework
G2: Board Charter