Document ID: chunk:federal_register_of_legislation:C2004A03971:section:1990:p28
Version: federal_register_of_legislation:C2004A03971
Segment Type: section
Provision Reference: s 1990 (pt 28/38)
Character Range: 87653–90354

be paid out of the Fund.

"Division 2b—Accounts and Records".

Trust to keep accounts and records

36. Section 44 of the Principal Act is amended:

(a) by omitting from subsection (1) "the Fund" and substituting "its operations";

(b) by adding at the end of subsection (2) "in respect of the Fund";

(c) by omitting from subsection (3) "into or out of the Fund" and substituting "by the Trust".

37. After section 44 of the Principal Act the following Division is inserted:

"Division 2c—The Chief Executive Officer

Chief Executive Officer

"44aa. (1) There shall be a Chief Executive Officer of the Trust.

"(2) The Chief Executive Officer is appointed by the Governor-General.

"(3) A person who is 65 years old may not be appointed as Chief Executive Officer and a person may not be appointed as Chief Executive Officer for a period that ends after the day on which the person reaches the age of 65 years.

"(4) A person appointed as Chief Executive Officer holds office for such period, not exceeding 5 years, as is specified in the instrument of appointment of the person.

"(5) The Chief Executive Officer holds office on such terms and conditions (if any) in respect of matters not provided for by this Act as are determined by the Governor-General.

"(6) The appointment of a person as Chief Executive Officer is not invalid because of a defect or irregularity in connection with the person's appointment.

Duties of Chief Executive Officer

"44aab. (1) The Chief Executive Officer manages the affairs of the Trust subject to the directions of, and in accordance with policies determined by, the Trust.

"(2) All acts and things done in the name of, or on behalf of, the Trust by the Chief Executive Officer are taken to have been done by the Trust.

Chief Executive Officer not to engage in other paid employment

"44aac. The Chief Executive Officer must not engage in paid employment outside the duties of his or her office except with the approval of the Minister.

Remuneration and allowances

"44aad. (1) The Chief Executive Officer is to be paid such remuneration as is determined by the Remuneration Tribunal, but if no determination of that remuneration by the Tribunal is in operation, the Chief Executive Officer is to be paid such remuneration as is prescribed.

"(2) The Chief Executive Officer is to be paid such allowances as are prescribed.

"(3) This section has effect subject to the Remuneration Tribunal Act 1973.

Leave of absence

"44aae. The Minister may grant leave of absence to the Chief Executive Officer on such terms and conditions as to remuneration or otherwise as the Minister determines.

Resignation

"44aaf. The Chief Executive Officer may resign office by