Commonwealth Consolidated Acts

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RESERVE BANK ACT 1959 - SECT 25

Vacation of Office

  (1)   If the Governor or the Deputy Governor:

  (a)   becomes permanently incapable of performing his or her duties; or

  (b)   engages in any paid employment outside the duties of his or her office; or

  (c)   becomes bankrupt, applies to take the benefit of any law for the relief of bankrupt or insolvent debtors, compounds with his or her creditors or makes an assignment of his or her salary for their benefit;

the Treasurer shall terminate his appointment.

  (2)   Section   30 of the Public Governance, Performance and Accountability Act 2013 (which deals with terminating the appointment of an accountable authority, or a member of an accountable authority, for contravening general duties of officials) does not apply in relation to the Governor despite subsection   30(6) of that Act.



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