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).