148Vacancies, resignations, removal from office

148 Vacancies, resignations, removal from office (1) The office of a director of a Transport Corporation becomes vacant if the director— (a) without the approval of the board of directors, fails to attend 3 consecutive meetings of the board of directors; or S. 148(1)(b) amended by No. 34/2023 s. 125(1). (b) becomes bankrupt, applies to take the benefit of any law for the relief of bankrupt or insolvent debtors, compounds with the director's creditors or makes an assignment of the director's remuneration for their benefit; or (c) is convicted of an indictable offence or an offence that, if committed in Victoria, would be an indictable offence. (2) A director may resign by notice in writing delivered to the Minister. (3) The Governor in Council may remove or suspend a director from office. S. 148(4) amended by No. 34/2023 s. 125(2). (4) A director must be removed from office by the Governor in Council if the director is convicted of an offence relating to their duties as a director.