CTHRepealedAct
Australian Securities and Investments Commission Act 1989
111Termination of appointment
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#### 111 Termination of appointment
(1) The Governor‑General may terminate a member’s appointment because of misbehaviour, or the physical or mental incapacity, of the member or if the member:
(a) becomes bankrupt, applies to take the benefit of a law for the relief of bankrupt or insolvent debtors, compounds with his or her creditors or assigns remuneration or property for their benefit;
(b) is a full‑time member and engages without the Minister’s consent in paid employment outside the duties of the member’s office;
(c) is a full‑time member and is absent from duty, except on leave of absence, for 14 consecutive days, or for 28 days in any period of 12 months;
(d) is a part‑time member and is absent, except on leave granted in accordance with subsection 113(2), from 3 consecutive meetings of the Commission;
(e) without reasonable excuse, contravenes section 123, subsection 124(2), (4) or (6) or section 125; or
(f) contravenes section 128.
(2) The Governor‑General may, with the consent of a full‑time member who is:
(a) an eligible employee; or
(b) a member of the superannuation scheme established by deed under the Superannuation Act 1990;
retire the member from office on the ground of incapacity.
(3) In spite of anything contained in this section, a member who:
(a) is an eligible employee; and
(b) has not reached his or her maximum retiring age within the meaning of the Superannuation Act 1976;
is not capable of being retired from office on the ground of invalidity within the meaning of Part IVA of that Act unless the Commonwealth Superannuation Board of Trustees No. 2 has given a certificate under section 54C of that Act.
(4) In spite of anything contained in this section, a member who:
(a) is a member of the superannuation scheme established by deed under the Superannuation Act 1990; and
(b) is under 60 years of age;
is not capable of being retired from office on the ground of invalidity within the meaning of that Act unless the Commonwealth Superannuation Board of Trustees No. 1 has given a certificate under section 13 of that Act.