20AEffect of chief executive officer ceasing to be chief executive officer

20A Effect of chief executive officer ceasing to be chief executive officer

[Section 20A Inserted by No. 42 of 2002, s. 12, Applied:27 Nov 2002]

(1)  If a person holds both the office of chief executive officer of a Government Business Enterprise and the office of director in that Government Business Enterprise, on the termination of his or her appointment as chief executive officer –

(a) his or her appointment as director is revoked; and

(b) any appointment of that person as director in a subsidiary of that Government Business Enterprise is revoked; and

(c) any membership of that person in any committee created by the Board or other managing authority of that Government Business Enterprise or subsidiary ceases.

(2)  Subsection (1) does not affect the eligibility of the person to be reappointed to an office referred to in that subsection.