150YDTermination of CEO’s appointment

#### 150YD Termination of CEO’s appointment Termination (1) The Commonwealth Minister may terminate the appointment of the CEO for misbehaviour or physical or mental incapacity. (2) The Commonwealth Minister may terminate the appointment of the CEO if: (a) the CEO: (i) becomes bankrupt; or (ii) applies to take the benefit of any law for the relief of bankrupt or insolvent debtors; or (iii) compounds with his or her creditors; or (iv) makes an assignment of his or her remuneration for the benefit of his or her creditors; or (b) the CEO is absent from duty, except on leave of absence, for 14 consecutive days or for 28 days in any 12 months; or (c) the CEO engages, except with the Commonwealth Minister’s approval, in paid employment outside the duties of his or her office; or (d) the CEO fails, without reasonable excuse, to comply with section 150YC; or (e) the Commonwealth Minister is satisfied that the performance of the CEO has been unsatisfactory for a significant period. Conflict of interest (3) If the Commonwealth Minister becomes aware, whether because of a notification under section 150YC or otherwise, that the CEO has an interest that could conflict with the proper performance of the CEO’s duties, the Commonwealth Minister must make a written determination either that the interest does, or that it does not, pose a significant risk of a conflict of interest. (4) If the Commonwealth Minister determines that the interest poses a significant risk, the Commonwealth Minister must require the CEO to dispose of that interest within a period specified by the Commonwealth Minister. (5) If: (a) the Commonwealth Minister requires the CEO to dispose of an interest; and (b) the CEO refuses or fails to comply with that requirement; the Commonwealth Minister must terminate the appointment of the CEO.