5Membership of audit panel

5 Membership of audit panel

(1)  The audit panel of a council is to be constituted by a minimum of 3 and a maximum of 5 members of whom –

(a) if the panel has 4 or 5 members, at least 2 must be independent persons; or

(b) if the panel has 3 members, at least one must be an independent person.

(2)  Without limiting who may be members of an audit panel, the following persons are eligible to be members of an audit panel:

(a) a councillor, other than the mayor, of the relevant council;

(b) [Clause 5 Subclause (2) amended by S.R. 2015, No. 79, Applied:01 Jan 2016] .  .  .  .  .  .  .  .  

(c) [Clause 5 Subclause (2) amended by S.R. 2015, No. 79, Applied:01 Jan 2016] a member of an audit panel of another council, if he or she is an independent person in respect of the other council.

(2A)  [Clause 5 Subclause (2A) inserted by S.R. 2015, No. 79, Applied:01 Jan 2016] A councillor, or employee, of a council is not eligible to be a member of an audit panel of another council.

(3)  A person who is an employee, or the general manager or the mayor, of a council is not entitled to be a member of the audit panel of that council.

(4)  The council is to appoint the members of its audit panel.

(5)  In appointing an independent person as a member of an audit panel, the council –

(a) is to ensure that the person possesses good business acumen and sound management and communication skills; and

(b) may take into account any other relevant knowledge, abilities and skills of the person including, but not limited to –

(i) knowledge and expertise in the areas of audit practices and financial management; and

(ii) knowledge of and experience in relevant industries; and