South Australian Current Acts

COMPANIES (ADMINISTRATION) ACT 1982 - SECT 14

14—Membership of the Board

        (1)         The Board shall consist of three persons appointed by the Governor of whom—

            (a)         one shall be a duly qualified legal practitioner of not less than five years' standing who shall be the chairman of the Board; and

            (b)         one shall be selected from a panel of three names nominated by the State Council of the Institute of Chartered Accountants in Australia; and

            (c)         one shall be selected from a panel of three names nominated by the Council of the State Division of the Australian Society of Accountants.

        (2)         If a Council fails to submit a panel of names in accordance with paragraphs (b) or (c) of subsection (1) within a reasonable time after being requested to do so by the Minister, the Governor may appoint a person of his choice.

        (3)         The Governor may appoint a person to be the deputy of a member of the Board and that person may, in the absence of the member of whom he has been appointed a deputy, act as a member of the Board.

        (4)         A person appointed to be the deputy of the Chairman of the Board shall be a duly qualified legal practitioner of not less than five years' standing and shall act as Chairman of the Board in the absence of the Chairman.

        (5)         No act or proceeding of the Board shall be invalid by reason only of a vacancy in the office of a member, or a defect in the appointment of a member.

        (6)         A person who immediately before the commencement of this Act, was a member of the Companies Auditors Board constituted under the Companies Act 1962 shall, from the commencement of this Act, be a member of the Companies Auditors and Liquidators Disciplinary Board and shall be deemed to have been appointed to hold office for the period expiring on the date on which the period for which he was appointed under the Companies Act 1962 would have expired.

        (7)         A person who, immediately before the commencement of this Act, was the deputy of a member of the Companies Auditors Board constituted under the Companies Act 1962 shall be deemed to be the deputy of that member of the Companies Auditors and Liquidators Disciplinary Board under this Act.