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FORESTRY ACT 2012 - SECT 6
Board of directors
6 Board of directors
(1) The Corporation is to have a board of directors.
(2) The board is to
consist of no fewer than 3 and not more than 7 directors appointed by the
voting shareholders.
(3) One of the directors is, in and by the director's
instrument of appointment or in and by another instrument executed by the
voting shareholders, to be appointed as chairperson of the board.
(4) The
chief executive officer may be appointed as a director.
(5) The board is
accountable to the voting shareholders in the manner set out in Part 4 of the
SOC Act and in the constitution of the Corporation.
(6) The
voting shareholders may remove a director, or the chairperson, from office at
any time for any or no reason and without notice (but only at a duly convened
meeting of the voting shareholders) and, in that event, the office of the
director or chairperson is taken to have become vacant for the purposes of
Schedule 8 to the SOC Act.
(7) Subject to subsections (8) and (9), Schedule 8
to the SOC Act has effect with respect to the constitution and procedure of
the board.
(8) The provisions of section 20J of the SOC Act, and of clauses
2(1) and (2) and 7(1)(d) and (2) of Schedule 8 to the SOC Act, do not apply to
the Corporation or to the chairperson.
(9) The provisions of clause 6 of
Schedule 8 to the SOC Act do not apply to the chief executive officer if
appointed as a director, and the chief executive officer is not entitled to
remuneration under that clause in his or her capacity as a director.
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