119Termination of appointment

#### 119 Termination of appointment (1) The Governor‑General may terminate the appointment of the Regulator for misbehaviour or physical or mental incapacity. (2) If the Regulator: (a) becomes bankrupt, applies to take the benefit of any law for the relief of bankrupt or insolvent debtors, compounds with his or her creditors or makes an assignment of his or her remuneration for their benefit; or (b) fails to comply with his or her obligations under section 120; or (c) without the consent of the Minister, engages in any paid employment outside the duties of his or her office; or (d) is absent from duty, except on leave of absence, for 14 consecutive days or for 28 days in any 12 months; the Governor‑General must terminate his or her appointment. (3) The Governor‑General must not terminate the appointment of the Regulator under subsection (1) unless a majority of jurisdictions agree to the termination of the appointment. (4) If the Regulator is: (a) an eligible employee for the purposes of the Superannuation Act 1976; or (b) a member of the superannuation scheme established by deed under the Superannuation Act 1990; or (c) an ordinary employer‑sponsored member of PSSAP, within the meaning of the Superannuation Act 2005; the Governor‑General may, with the consent of the Regulator, retire the Regulator from office on the grounds of physical or mental incapacity. (5) For the purposes of the Superannuation Act 1976, the Regulator is taken to have been retired from office on the grounds of invalidity if: (a) the Regulator is removed or retired from office on the grounds of physical or mental incapacity; and (b) CSC gives a certificate under section 54C of that Act. (6) For the purposes of the Superannuation Act 1990, the Regulator is taken to have been retired from office on the grounds of invalidity if: (a) the Regulator is removed or retired from office on the grounds of physical or mental incapacity; and (b) CSC gives a certificate under section 13 of that Act. (7) For the purposes of the Superannuation Act 2005, the Regulator is taken to have been retired from office on the grounds of invalidity if: (a) the Regulator is removed or retired from office on the grounds of physical or mental incapacity; and (b) CSC gives an approval and certificate under section 43 of that Act.