AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION ACT 2001 - SECT 207 Termination of appointment
AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION ACT 2001 - SECT 207
Termination of appointment(1) The Minister may terminate the appointment of the Chairperson, the Deputy Chairperson or any other member because of misbehaviour or physical incapacity.
(2) If the Chairperson, the Deputy Chairperson or any other member:
(a) is absent, without leave of the Disciplinary Board, from 3 consecutive meetings of the Board; or
(b) becomes bankrupt, applies to take the benefit of a law for the relief of bankrupt or insolvent debtors, compounds with his or her creditors or assigns remuneration or property for their benefit; or
(c) is convicted in Australia of an offence punishable by imprisonment for 12 months or longer; or
(d) becomes of unsound mind; or
(e) fails, without reasonable excuse, to comply with section 211;
the Minister must terminate his or her appointment.