(1) A GTE’s
board must appoint a committee to assist the board in performing its audit and
risk management functions.
(2) A member of a
GTE’s audit and risk management committee who is also a director of the
GTE is entitled to an allowance determined by the Salaries and Allowances
Tribunal.
(3) The allowance is
in addition to any other remuneration to which the director is entitled under
this Act.
(4) Despite
subsections (2) and (3), a director is not entitled to remuneration under this
section if 1 or more of the following applies to the director —
(a) the
director is also the GTE’s chief executive officer;
(b) the
director holds a full-time office or position that is remunerated out of funds
appropriated by Parliament;
(c) a
prescribed circumstance applies to or in relation to the director.