Commonwealth Consolidated Acts

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FUTURE FUND ACT 2006 - SECT 44

Termination of appointment of Board members

  (1)   The responsible Ministers may terminate the appointment of a Board member for misbehaviour or physical or mental incapacity.

  (2)   The responsible Ministers may terminate the appointment of a Board member if:

  (a)   the Board member:

  (i)   becomes bankrupt; or

  (ii)   applies to take the benefit of any law for the relief of bankrupt or insolvent debtors; or

  (iii)   compounds with his or her creditors; or

  (iv)   makes an assignment of his or her remuneration for the benefit of his or her creditors; or

  (b)   the Board member is absent, except on leave of absence, from 3 consecutive meetings of the Board; or

  (c)   the Board member contravenes section   56, 57, 58, 59, 60, 61 or 62; or

  (d)   the Board member fails, without reasonable excuse, to comply with section   68, 69 or 71; or

  (e)   the responsible Ministers are satisfied that the performance of the Board member has been unsatisfactory for a significant period.


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