(1) Subsection (2)
applies in relation to the remuneration of a director of a wholly-owned
subsidiary while —
(a) the
subsidiary is a Government entity; and
(b) the
director is a director for the purposes of the Salaries and Allowances Act
1975 section 7D.
(2) The remuneration
of the director must be determined by the Portfolio Minister within the range
determined by the Salaries and Allowances Tribunal under the
Salaries and Allowances Act 1975 section 7D.
(3) Subsection (4)
applies in relation to the remuneration of a director of a wholly-owned
subsidiary while either —
(a) the
subsidiary is not a Government entity; or
(b) the
subsidiary is a Government entity but the office of the director is prescribed
for the purposes of paragraph (b) of the definition of director in the
Salaries and Allowances Act 1975 section 7D(1).
(4) The remuneration
of the director must be determined by the Portfolio Minister.
(5) The Portfolio
Minister for a wholly-owned subsidiary is not required, under subsection (2)
or (4), to redetermine the remuneration of a director of the subsidiary if
they held office as a director of the subsidiary immediately before the day on
which the subsection began to apply to them.
(6) Despite
subsections (1) to (5) but subject to subsection (7), a director of a
wholly-owned subsidiary is not entitled to remuneration under this section if
—
(a) the
director is also a director of the GTE; or
(b) the
director is also the chief executive officer of the GTE or the subsidiary; or
(c) the
director is also a member of staff of the GTE or the subsidiary; or
(d) the
director holds a full-time office or position that is remunerated out of funds
appropriated by Parliament; or
(e) a
prescribed circumstance applies to or in relation to the director.
(7) Subsection (6)(a)
does not apply to a director of a wholly-owned subsidiary who is also a
director of the GTE if the Portfolio Minister, in writing, determines that it
is not to apply.
(8) This section,
other than subsection (6), has effect subject to section 119.