421BMeaning of “governing body”

421B Meaning of “governing body”

421B Meaning of “governing body”

(1) In this Division, a governing body, in relation to a relevant entity, means—

(a) a board, council or other body comprised of individuals that are collectively responsible for managing the affairs of the entity, or

(b) if the entity does not have a body described in paragraph (a)—the person who is the chief executive of the entity (however described) or otherwise responsible for the entity’s day to day management, or

(c) another entity declared by the regulations to be the governing body for the entity.

(2) In this Division, a governing body does not include—

(a) a board, council or other body with merely advisory functions, or

(b) an entity, or an entity of a kind, prescribed by the regulations not to be a governing body.

s 421B: Ins 2016 No 38, Sch 1 [38]. Subst 2022 No 75, Sch 2[1].