18Members’ remuneration

18 Members’ remuneration

(1) A Board member is to be paid the remuneration that is determined by the Remuneration Tribunal. If no determination of that remuneration by the Tribunal is in operation, the member is to be paid the remuneration that is specified in a determination made by the Minister under subsection (4). (2) However, a Board member is not entitled to be paid this remuneration if he or she holds an office or appointment, or is otherwise employed, on a full‑time basis in the service or employment of: (a) a State; or (b) a corporation (a public statutory corporation) established for a public purpose by a State law, other than a tertiary education institution; or (c) a company limited by guarantee where the interests and rights of the members in or in relation to the company are beneficially owned by a State; or (d) a company in which all the stock or shares are beneficially owned by a State or by a public statutory corporation.

Note: A similar rule applies to a Board member who has a similar relationship with the Commonwealth or a Territory. See subsection 7(11) of the Remuneration Tribunal Act 1973.

(3) A Board member is to be paid the allowances that are specified in a determination made by the Minister under subsection (4). (4) For the purposes of subsection (1) or (3), the Minister may, by legislative instrument, determine remuneration or allowances to be paid to a Board member. (5) This section (except subsection (2)) has effect subject to the Remuneration Tribunal Act 1973.