New Zealand Acts

WOOL INDUSTRY RESTRUCTURING ACT 2003 - SECT 14

14 Ministerial appointments

1 At any time before the Minister receives the final report on the implementation of the restructuring plan under section 57 , the Minister—

a) may appoint a director of the company; and

b) must appoint a director of the company if the number of directors is smaller than 3.

2 A person may not be appointed by the Minister under subsection (1)(a) unless the person is recommended for appointment by the directors of the company.

3 To facilitate appointment by the Minister under subsection (1)(b), the directors of the company must recommend a person for appointment by the Minister before the number of directors is smaller than 3.

4 However, the Minister must appoint a director of the company under subsection (1)(b) if the directors do not make the required recommendation under subsection (3).

5 The Minister may reject particular individuals recommended under subsections (2) and (3) and seek other recommendations.