Document ID: chunk:federal_register_of_legislation:C2004A03591:body:0:p12
Version: federal_register_of_legislation:C2004A03591
Segment Type: other
Provision Reference: 
Character Range: 28521–31253

for appointment, promotion or transfer, as the case may be, having regard to:
        (i) the nature of the duties to be performed by the person appointed, promoted or transferred; and
        (ii) the abilities, qualifications, experience and other attributes of each person so considered that are relevant to the performance of those duties.".
28. Sections 88 and 89 of the Principal Act are repealed and the following section is substituted:

Appointment of officers
"88. (1) The Corporation may appoint such officers as are necessary for the purposes of this Act.
"(2) The officers appointed by the Corporation constitute the Commonwealth Banking Corporation Service.
"(3) The terms and conditions of employment of officers shall be determined by the Corporation.".

Benefits
29. Section 1 10a of the Principal Act is amended:
    (a) by omitting subsection (1) and substituting the following subsection:
    "(1) The regulations may make provision for and in relation to the payment, in such circumstances as are prescribed, to or in respect of an officer who has been retired from the Service of a benefit, whether by way of lump sum or otherwise, ascertained in accordance with the regulations."; and
    (b) by omitting from subsection (2) "either or both of the paragraphs of subsection (1)" and substituting "that subsection".
30. Section 112 of the Principal Act is repealed and the following section is substituted:

Entitlements of statutory officers
"112. (1) On the death, retirement, or termination of the period of office, of a statutory officer who was not an officer of the Service immediately before his or her appointment as a statutory officer, there is payable to or in respect of the officer the same benefits that would have been payable if he or she had been an officer of the Service during the period when he or she held office as a statutory officer.
"(2) On the death, retirement, or termination of the period of office, of a statutory officer who was an officer of the Service immediately before his or her appointment as a statutory officer, there is payable to or in respect of the officer the same benefits that would have been payable if he or she had remained an officer of the Service during the period when he or she held office as a statutory officer.".
31. Section 118 of the Principal Act is repealed and the following section is substituted:

Accounts and records
"118. A body to which this Part applies shall:
    (a) cause proper accounts and records of the transactions and affairs of the body to be kept in accordance with the accounting principles generally applied in commercial practice; and
    (b) do all things necessary to ensure that all payments are correctly made and properly