Commonwealth Consolidated Acts

GOVERNANCE OF AUSTRALIAN GOVERNMENT SUPERANNUATION SCHEMES ACT 2011 - SECT 11

  (1)   The Board consists of:

  (a)   a Chair; and

  (b)   8 other directors.

Note:   See also subsection   38(2).

  (2)   Subject to subsection   ( 4), of the 8 other directors:

  (a)   the President of the Australian Council of Trade Unions may nominate, in writing, 2 persons; and

  (b)   the Chief of the Defence Force may nominate, in writing, 2 persons.

Note:   The Minister chooses the remaining 4 other directors.

  (3)   However, a person is not eligible for nomination if the person's appointment would result in a contravention of a SIS fitness and propriety standard.

  (4)   Before nominating a person, the President of the Australian Council of Trade Unions must consult with one or more relevant organisations.

  (5)   Before nominating a person, the Chief of the Defence Force must consult with one or more relevant organisations.

  (6)   A nomination must specify the period for which the nominee is to be appointed. The period may not be more than 3 years.

  (7)   The performance of a function or the exercise of a power of the Board is not affected by a vacancy in the membership of the Board.