508Vacancy, resignation and termination

508 Vacancy, resignation and termination (1) A Director ceases to hold office if he or she— (a) becomes an insolvent under administration; or (b) is convicted, or found guilty, of an indictable offence or an offence that, if committed in Victoria, would be an indictable offence. S. 508(2) amended by No. 27/2025 s. 30. (2) A Director may resign his or her office by writing signed by him or her and delivered to the Minister. (3) The Governor in Council may remove a Director from office— (a) if the Director is absent from 3 consecutive meetings in any year without leave granted by the Minister; or (b) on any ground on which the Governor in Council is satisfied that the Director is unfit to hold office.