38Membership

38 Membership

(1) The Board consists of the following members: (a) a Chair; (b) 6 other members.

Note: Section 18B of the Acts Interpretation Act 1901 deals with the title of the Chair.

(2) Board members are to be appointed by the responsible Ministers by written instrument.

Note: A Board member may be reappointed: see section 33AA of the Acts Interpretation Act 1901.

(3) A person is not eligible for appointment as a Board member unless the responsible Ministers are satisfied that the person has: (a) substantial experience or expertise; and (b) professional credibility and significant standing; in at least one of the following fields: (c) investing in financial assets; (d) the management of investments in financial assets; (e) corporate governance. (4) A person is not eligible for appointment as a Board member if the person is: (a) an employee of the Commonwealth; or (b) an employee of a statutory authority of the Commonwealth; or (c) an employee of a Commonwealth company; or (d) the holder of a full‑time office under a law of the Commonwealth.

Note: A Board member is not an employee of the Commonwealth. A Board member holds a part‑time office under a law of the Commonwealth.