Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) This section only applies to members referred to in paragraphs 34(1)(a), (b) and (f).
(2) The Minister may terminate the appointment of a member if:
(a) the Board has resolved that the appointment of the member be terminated; and
(b) the resolution was passed at a meeting of the Board convened for the purpose of considering a motion that the appointment of the member be terminated; and
(c) the resolution was passed by not less than a two - thirds majority of the members present, excluding the member to whom the resolution relates.
(3) The Minister may terminate the appointment of a member if the Minister is satisfied:
(a) that it is not in the best interests of EFIC that the member continue in office; or
(b) that the performance of the member has been unsatisfactory for a significant period.