Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) Subject to subsection (2), the Managing Director shall be appointed by the Board for a period of 5 years, but is eligible for re - appointment.
(2) Where the person holding office as Managing Director is re - appointed, the re - appointment shall be for a period not exceeding 5 years.
(3) The Managing Director holds office, subject to this Part, on such terms and conditions as are determined by the Board.