40Appointment of consumer trustee—the Act, s 66(5)(a)

40 Appointment of consumer trustee—the Act, s 66(5)(a)

40 Appointment of consumer trustee—the Act, s 66(5)(a)

(1) A person may be appointed as consumer trustee only if the person is a company limited by guarantee.

(2) The company limited by guarantee must—

(a) have AEMO as a member, and

(b) not have any other members except for one or more of the following—

(i) the Crown in right of the Commonwealth,

(ii) the Crown in right of New South Wales,

(iii) the Crown in right of another State or Territory, and

(c) be a subsidiary of AEMO, and

(d) have a constitution that sets out—

(i) objects that are not inconsistent with the exercise of the functions of the consumer trustee, and

(ii) the functions of the company’s members, and

(e) enter into an agreement with AEMO that deals with—

(i) the governance arrangements of the company, and

(ii) the provision by AEMO of services to assist the company in exercising its functions as consumer trustee.

(3) This clause applies only to the first person appointed as consumer trustee under the Act, section 60.

cl 40 (previously cl 17 (previously cl 8)): Renumbered 2022 (366), Sch 1[14].