At its meeting in Fremantle on 16 April 2005,the Federal Court adopted a recommendation to establish a new Award.

The objective of the Award is to give the Company a higher profile in the shipping and maritime industries,and is open to all
 participants in those industries, whether at sea or ashore and includes students
 

The Award is named "The Company of Master Mariners of Australia Outstanding Achievement Award" and is to be presented  annually. The winner is presented with a framed Certificate and is be given free membership of the  Company in the
 appropriate membership category for a period of two years.

Nominations for the Award are put forward by an individual member of the Company or by a Branch of the Company. In the former case another member would second the proposal whilst no seconder is required for a Branch nomination. The winner is presented with the Award at a General Meeting of the Branch from which his/her nomination was made and is attached to that Branch. 

If more than one nomination is received in any given year, the winner will be chosen by a decision of the Federal Executive.
 
Further details on the adminstration of the Award are available from the Federal Secretary