124Directors

124 Directors

124 Directors

(1) For the Act, sections 144(5) and 223(7), a person ceases to be a director of a private water entity if the person—

(a) dies, or

(b) resigns, or

(c) is absent, without leave, from 3 consecutive meetings of the entity, or

(d) becomes personally insolvent, or

(e) becomes a mentally incapacitated person, or

(f) is convicted in New South Wales of an offence that is punishable by imprisonment for 12 months or more, or

(g) is convicted in another jurisdiction of an offence that, if committed in New South Wales, would be an offence punishable by 12 months or more, or

(h) is convicted, in any jurisdiction, of an offence involving fraud.

(2) In this section—

director, of a private water entity, means—

(a) a board member of a private water corporation, or

(b) a trustee of a private water trust.