Queensland Numbered Acts

GOVERNMENT OWNED CORPORATIONS AMENDMENT ACT 2007 No. 10 - SECT 44

Chapter 3, part 6, division 2--

insert--

'(1) This section applies to a company GOC subsidiary that is not prescribed under a regulation made under section 177(1).

Note--

For a company GOC subsidiary prescribed under a regulation made under section 177(1), schedule 4 provides for the appointment of the subsidiary's chief executive officer.

'(2) The subsidiary's chief executive officer is to be appointed by the subsidiary's board with the prior written approval of the shareholding Ministers of each GOC that is a shareholder of the subsidiary.

'(3) Subsection (2) does not limit a provision of the subsidiary's constitution requiring the subsidiary's board to consult the board of a GOC that is a shareholder of the subsidiary before appointing the chief executive officer under the subsection.'.