New South Wales Consolidated Acts

STATE OWNED CORPORATIONS ACT 1989 - SECT 20J

20J Directors

(1) There is to be a board of directors of a statutory SOC.

(2) The board is to consist of not fewer than 3 and not more than 7 directors appointed by the Governor on the recommendation of the voting shareholders.

(3) Of the directors:

(a) one is to be a staff director, and

(b) the others are to be persons who, in the opinion of the voting shareholders, will assist the SOC to achieve its principal objectives.

(4) The staff director is to be selected in accordance with the procedures specified in the SOC’s foundation charter or (in the absence of any such procedures) in accordance with the relevant provisions of Schedule 8.

(5) The chief executive officer may be appointed as a director.

(6) The board is accountable to the voting shareholders in the manner set out in Part 4 and in the constitution of the SOC.

(7) Schedule 8 has effect with respect to the constitution and procedure of the board.