New Zealand Acts

WOOL INDUSTRY RESTRUCTURING ACT 2003 - SECT 13

13 Appointment of directors

1 The Board must appoint 3, 4, or 5 directors of the Board, immediately before its conversion, as directors of the company.

2 The directors of the company appointed under subsection (1) must include—

a) at least 2 persons who were elected to the Board by growers; and

b) at least 1 person who was appointed to the Board by the Minister on the recommendation of the Board under section 13(2)(b) of the Wool Board Act 1997.

3 The total number of directors of the company must not exceed 5.