Northern Territory Numbered Acts Northern Territory Numbered ActsSection 95
repeal, insert
(1) The Fund consists of the following members:
(a) the Registrar;
(b) the Chairperson;
(c) one person appointed by the Minister who, in the Minister's opinion, has expertise and experience in finance and investment;
(d) one person appointed by the Minister on the recommendation of the Chief Executive Officer of the Agency administering the Financial Management Act ;
(e) one person appointed by the Minister who is a member of an industry body, as defined in section 93(6).
(2) Subject to subsections (3) and (4), the appointed members:
(a) hold office for a period of 2 years; and
(b) are eligible for re-appointment.
(3) An appointed member may resign from office by written notice signed by or with the authority of the member and given to the Minister.
(4) The Minister may terminate the appointment of an appointed member.
(1) The Minister may, at any time, appoint a person as the alternate of a member.
(2) An alternate member may act while the member for whom the person is the alternate is prevented from performing the duties of office by illness, absence, the operation of section 95AB or other reason considered sufficient by the Registrar.
(3) An alternate member holds office during the same period as the member for whom the person is the alternate, or for any shorter period specified by the Minister.
(4) A person appointed as the alternate of a member mentioned in section 95(1)(c) to (e) is subject to the same qualifications as that member.