4AEstablishment of Board

4A Establishment of Board

4A Establishment of Board

(1) There is constituted by this Act a board of directors of the Corporation.

(2) The Board is to consist of the following:

(a) the Chief Executive,

(b) the Secretary of the Treasury (or an officer of the Treasury nominated for the time being by the Secretary of the Treasury to represent the Secretary),

(c) another officer of the Treasury (if any) nominated for the time being by the Secretary of the Treasury to represent the Treasury,

(d) not fewer than 3 and not more than 7 persons appointed by the Treasurer who, in the opinion of the Treasurer, have expertise that is relevant to the functions exercisable by the Corporation.

(3) The Secretary of the Treasury is, by an instrument of appointment or a subsequent instrument, to appoint one of the members of the Board to be the Chairperson and one to be the Deputy Chairperson of the Board.

(3A) The Secretary of the Treasury is to consult with the Treasurer before appointing a director referred to in subsection (2) (d) as Chairperson or Deputy Chairperson of the Board.

(4) Schedules 3 and 4 have effect with respect to the members and procedure of the Board.

s 4A: Ins 1987 No 225, Sch 1 (3). Subst 1988 No 79, Sch 1 (3). Am 1989 No 180, Sch 1 (1); 2015 No 52, Sch 1 [1].