Commonwealth Consolidated Acts

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REGIONAL INVESTMENT CORPORATION ACT 2018 - SECT 26

Termination of appointment

  (1)   The responsible Ministers may terminate the appointment of a Board member:

  (a)   for misbehaviour; or

  (b)   if the Board member is unable to perform the duties of his or her office because of physical or mental incapacity; or

  (c)   if the responsible Ministers do not have confidence in the Board member.

  (2)   The responsible Ministers may terminate the appointment of a Board member if:

  (a)   the Board member:

  (i)   becomes bankrupt; or

  (ii)   applies to take the benefit of any law for the relief of bankrupt or insolvent debtors; or

  (iii)   compounds with his or her creditors; or

  (iv)   makes an assignment of his or her remuneration for the benefit of his or her creditors; or

  (b)   the Board member is absent, except on leave of absence, from 3 consecutive meetings of the Board; or

  (c)   the Board member engages in paid work that, in the opinion of the responsible Ministers, conflicts or could conflict with the proper performance of his or her duties (see section   23 (outside employment)); or

  (d)   the responsible Ministers are satisfied that the performance of the Board member has been unsatisfactory for a significant period.

Note 1 :   The appointment of a Board member may also be terminated under 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).

Note 2:   The appointment of a Board member may also be terminated under section   30 of the Future Drought Fund Act 2019 (which deals with terminating the appointment of a Board member for failing to comply with disclosure of interest obligations).



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