6AActing appointments

6A Acting appointments

Where a provision of the ASIC Law of this jurisdiction (other than subsection 109ZB(8) of the Corporations Law as it applies because of subsection 5(3) of the ASIC Law) confers on a person or body (in this section called the appointer) a power to appoint a person (in this section called the appointee) to act in a particular office, then, except so far as the ASIC Law otherwise provides, the following paragraphs apply in relation to an appointment made under the provision: (a) the appointment may be expressed to have effect only in the circumstances specified in the instrument of appointment; (b) the appointer may: (i) determine the terms and conditions of the appointment, including remuneration and allowances; and (ii) terminate the appointment at any time; (ba) in the case of an appointment to act in a vacant office—the appointee must not continue to act in the office for more than 12 months; (c) where the appointee is acting in an office other than a vacant office and the office becomes vacant while the appointee is acting, then, subject to paragraph (a), the appointee may continue so to act until: (i) the appointer otherwise directs; or (ii) the vacancy is filled; or (iii) a period of 12 months from the day of the vacancy ends; whichever happens first; (d) the appointment ceases to have effect if the appointee resigns in writing delivered to the appointer; (e) while the appointee is acting in the office: (i) the appointee has and may exercise all the powers, and shall perform all the functions and duties, of the holder of the office; and (ii) any law of this jurisdiction applies in relation to the appointee as if the appointee were the holder of the office.