Western Australian Current Acts Western Australian Current Acts (1) An eligible
company is a company that —
(a) is
carried on other than for the profit or gain of its individual members; and
(b) has
a constitution that complies with subsection (2).
(2) The constitution
of a company complies with this subsection if it, at all times —
(a)
requires the company to maintain a board, constituted by 9 directors, that has
the composition required under subsection (3); and
(b)
prohibits dividends being paid to, or the income, profits or assets of the
company being distributed among, its members; and
(c)
requires the persons appointed or employed as executive officers of the
company to be eligible individuals; and
(d)
includes provisions about —
(i)
the way the chair and directors are appointed and
removed; and
(ii)
the way the chair and directors vote on and decide
matters; and
(iii)
the remuneration and other entitlements of the chair and
directors; and
(iv)
the way the constitution is amended; and
(v)
any other matter prescribed by the regulations.
(3) The required
composition of the board is the following —
(a) a
chair who is —
(i)
a director; and
(ii)
independent of the beverage industry; and
(iii)
independent of the waste industry; and
(iv)
approved by the Minister;
(b) at
least 1 director who is an executive officer, employee or business associate
of a minor beverage supplier or an association that represents minor beverage
suppliers;
(c) at
least 1 director who is an executive officer, employee or business associate
of a major beverage supplier;
(d) at
least 1 director who —
(i)
is independent of the beverage industry; and
(ii)
has experience in the recycling and waste industry
(including, but not limited to, experience in waste recovery, processing,
transport or logistics);
(e) in
addition to the chair, at least 1 other director who —
(i)
represents the interests of the community; and
(ii)
is independent of the beverage industry; and
(iii)
is independent of the waste industry; and
(iv)
is approved by the Minister;
(f) at
least 2 other directors who —
(i)
have legal or financial qualifications and experience;
and
(ii)
are independent of the beverage industry; and
(iii)
are independent of the waste industry.
(4) Regulations may
deal with any matter in relation to the Minister’s approval under
subsection (3)(a)(iv) and (e)(iv) and may (without limitation) deal with the
grounds on which the Minister may refuse to approve a person.
[Section 47V inserted: No. 5 of 2019 s. 6.]
[Heading inserted: No. 5 of 2019 s. 6.]