7Management

7 Management

7 Management

(1) The affairs of the body corporate shall be managed and controlled by the trustees.

(2) The first members and trustees shall be the Honorable Thomas Waddell, Member of the Legislative Council, the Honorable Alfred Edgar Hunt, Member of the Legislative Council, James Kidd, Kenneth de Lacy Cudmore, George Valder, William Wilson Killen, Member of the House of Representatives, and Herbert Robert Seddon, of whom the Honorable Alfred Edgar Hunt, Member of the Legislative Council, George Valder, and Herbert Robert Seddon, and their successors shall be Government representatives on the body corporate.

(3) The trustees shall be entitled to act by a majority of those present at any meeting duly convened.

(4) The office of a trustee shall be vacated—

(a) If he becomes bankrupt or suspends payment, assigns his estate for the benefit of or compounds with his creditors.

(b) If he is found lunatic or becomes of unsound mind or of such infirm health as to be incapable of managing his affairs.

(c) If he is absent from the meetings of trustees continuously for three consecutive months without special leave from the majority of the trustees.

(d) If by notice in writing delivered to the chairman of trustees or secretary of the body corporate he resigns his office.

(5) Any vacancies among the trustees, whether by death or otherwise, whereby the number of trustees shall be reduced to less than seven shall be filled in manner following—

(a) if the vacancy is in the office of a trustee who is a Government representative, by the appointment of a person by the Governor signified by notification published in the Gazette,

(b) if the vacancy is in the office of a trustee who is not a Government representative, by resolution of the trustees passed at a meeting duly convened for the purpose and published in the Gazette.

(6) No act of the body corporate shall be invalid by reason of the fact that at the time of such act a vacancy existed among the trustees and had not been filled.

(7) The first chairman of trustees of the body corporate shall be the Honorable Thomas Waddell, Member of the Legislative Council.

Any vacancy in the position of chairman, however occurring, shall be filled by the trustees.