Commonwealth Consolidated Acts

EXPORT FINANCE AND INSURANCE CORPORATION ACT 1991 - SECT 43

             (1)  This section only applies to members referred to in paragraphs 34(1)(a), (b) and (f).

             (2)  The Minister may terminate the appointment of a member if:

                     (a)  the Board has resolved that the appointment of the member be terminated; and

                     (b)  the resolution was passed at a meeting of the Board convened for the purpose of considering a motion that the appointment of the member be terminated; and

                     (c)  the resolution was passed by not less than a two‑thirds majority of the members present, excluding the member to whom the resolution relates.

             (3)  The Minister may terminate the appointment of a member if the Minister is satisfied:

                     (a)  that it is not in the best interests of EFIC that the member continue in office; or

                     (b)  that the performance of the member has been unsatisfactory for a significant period.