Commonwealth Numbered Acts

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FUTURE FUND ACT 2006 (NO. 12, 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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