Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) A Financial Services and Credit Panel is taken to have made a decision at a meeting if:
(a) the Chair of the panel informs the other members of the panel of the proposed decision, or makes reasonable efforts to do so; and
(b) without meeting, a majority of the members of the panel entitled to vote on the proposed decision indicate agreement with the decision; and
(c) that agreement is indicated in accordance with the method determined by the panel under subsection (2).
(2) Subsection (1) applies only if:
(a) the Chair of the panel is not prevented by subsection 148(3) from convening a meeting in relation to the proposed decision; and
(b) the panel:
(i) has determined that it may make decisions of that kind without meeting; and
(ii) has determined the method by which members of the panel are to indicate agreement with proposed decisions.
(3) For the purposes of paragraph (1)(b):
(a) a member of the panel (other than the Chair of the panel) is not entitled to vote on a proposed decision if the member would not have been entitled to vote on that proposal if the matter had been considered at a meeting of the panel; and
(b) if:
(i) the number of members indicating agreement with the decision is equal to the number of members not indicating agreement with the decision; and
(ii) the Chair of the panel indicates the Chair's agreement with the decision;
a majority of the members of the panel entitled to vote on the proposed decision is taken to have indicated agreement with the decision.
(4) The panel must keep a record of decisions made in accordance with this section.