Commonwealth Consolidated Acts

FUTURE FUND ACT 2006 - SECT 38

             (1)  The Board consists of the following members:

                     (a)  a Chair;

                     (b)  6 other members.

Note:          Section 18B of the Acts Interpretation Act 1901 deals with the title of the Chair.

             (2)  Board members are to be appointed by the responsible Ministers by written instrument.

Note:          For re‑appointment, see subsection 33(4A) of the Acts Interpretation Act 1901 .

             (3)  A person is not eligible for appointment as a Board member unless the responsible Ministers are satisfied that the person has:

                     (a)  substantial experience or expertise; and

                     (b)  professional credibility and significant standing;

in at least one of the following fields:

                     (c)  investing in financial assets;

                     (d)  the management of investments in financial assets;

                     (e)  corporate governance.

             (4)  A person is not eligible for appointment as a Board member if the person is:

                     (a)  an employee of the Commonwealth; or

                     (b)  an employee of a statutory authority of the Commonwealth; or

                     (c)  an employee of a Commonwealth company; or

                     (d)  the holder of a full‑time office under a law of the Commonwealth.

Note:          A Board member is not an employee of the Commonwealth. A Board member holds a part‑time office under a law of the Commonwealth.