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GOVERNMENT TRADING ENTERPRISES ACT 2023 - SECT 249

249 .         Section 7C replaced

                Delete section 7C and insert:


7BA.         Term used: Government entity

                In sections 7C and 7D —

        Government entity means an entity —

            (a)         that is described in column 1 of Schedule 2; and

            (b)         that is not prescribed by the regulations for the purposes of this paragraph.

7C.         Determinations as to remuneration of executive officers of Government entities

        (1)         In this section —

        executive officer , of an entity described in column 1 of Schedule 2, means a person whose office —

            (a)         is described in column 2 of Schedule 2 for the entity, other than as that of director of the entity; and

            (b)         is not prescribed by the regulations for the purposes of this paragraph;

        (2)         The Tribunal must, from time to time as provided by this Act, inquire into and determine the minimum and maximum amounts of remuneration to be paid or provided to executive officers of Government entities.

        (3)         Section 6(2) and (3) apply to a determination under subsection (2).

        (4)         However, a person who holds an office described in column 2 of Schedule 2 for an entity immediately before the day on which the entity is described in column 1 of Schedule 2 must be treated, for the purposes of subsection (2), as if they were not an executive officer of the entity during the balance of the person’s term of office that remained immediately before that day.

7D.         Determinations as to remuneration of directors of certain Government entities

        (1)         In this section —

        director , of an entity described in column 1 of Schedule 2, means a person whose office —

            (a)         is described in column 2 of Schedule 2 for the entity as that of director of the entity; and

            (b)         is not prescribed by the regulations for the purposes of this paragraph.

        (2)         The Tribunal must, from time to time as provided by this Act, inquire into and determine the minimum and maximum amounts of remuneration to be paid or provided to directors of Government entities.

        (3)         Section 6(2) and (3) apply to a determination under subsection (2).

7E.         Determinations as to allowance for directors of certain GTEs: audit and risk committee members

        (1)         For the purposes of the Government Trading Enterprises Act 2023 section 27(2), the Tribunal must, from time to time as provided by this Act, inquire into and determine the allowance to be paid or provided to members of audit and risk management committees of GTEs who are also directors of the GTE concerned.

        (2)         The allowance must be the same for all such members for a particular GTE, other than for the chair of the committee.

        (3)         Section 6(2) and (3) apply to a determination under subsection (1).




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