Australian Securities and Investments Commission Act 1989
207Termination of appointment
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207 Termination of appointment
(1) The Minister may terminate the appointment of the Chairperson, any other member or a deputy of a member because of misbehaviour or physical incapacity. (2) If the Chairperson, any other member or a deputy of a member: (a) is absent, without leave of the Disciplinary Board, from 3 consecutive meetings of the Board (being, in the case of a deputy of a member, meetings that the deputy is required to attend); (b) 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; (c) is convicted in Australia of an offence punishable by imprisonment for 12 months or longer; (d) becomes of unsound mind; or (e) fails, without reasonable excuse, to comply with section 211; the Minister shall terminate his or her appointment.