Commonwealth Consolidated Acts

FUTURE FUND ACT 2006 - SECT 38

  (1)   The Board consists of the following members:

  (a)   a Chair;

  (b)   6 other members.

Note:   Section   18B of the Acts Interpretation Act 1901 deals with the title of the Chair.

  (2)   Board members are to be appointed by the responsible Ministers by written instrument.

Note:   A Board member may be reappointed: see section   33AA of the Acts Interpretation Act 1901 .

  (3)   A person is not eligible for appointment as a Board member unless the responsible Ministers are satisfied that the person has:

  (a)   substantial experience or expertise; and

  (b)   professional credibility and significant standing;

in at least one of the following fields:

  (c)   investing in financial assets;

  (d)   the management of investments in financial assets;

  (e)   corporate governance.

  (4)   A person is not eligible for appointment as a Board member if the person is:

  (a)   an employee of the Commonwealth; or

  (b)   an employee of a statutory authority of the Commonwealth; or

  (c)   an employee of a Commonwealth company; or

  (d)   the holder of a full - time office under a law of the Commonwealth.

Note:   A Board member is not an employee of the Commonwealth. A Board member holds a part - time office under a law of the Commonwealth.