Document ID: chunk:federal_register_of_legislation:C2004A01334:clause:2_239ab
Version: federal_register_of_legislation:C2004A01334
Segment Type: clause
Provision Reference: sch 2 cl 239AB
Character Range: 254032–254959

239AB  Membership

 (1) The Financial Reporting Panel consists of such members, not fewer than 5, as hold office in accordance with this Part.

 (2) The Minister is to appoint the members of the Financial Reporting Panel.

 (3) Each of the members may be appointed as a full‑time member or as a part‑time member.

 (4) The Minister must not appoint a person as a member unless the Minister is satisfied that the person is qualified for appointment because of his or her knowledge of, or experience in, one or more of the following fields:
 (a) accounting;
 (b) auditing;
 (c) business;
 (d) the administration of companies;
 (e) law.

 (5) The performance of the functions or the exercise of the powers of the Financial Reporting Panel is not affected merely because its membership is not as prescribed by subsection (1), unless a continuous period of 3 months has elapsed since its membership ceased to be as so prescribed.