Document ID: chunk:federal_register_of_legislation:C2023A00101:clause:3_19
Version: federal_register_of_legislation:C2023A00101
Segment Type: clause
Provision Reference: sch 3 cl 19
Character Range: 47626–49115

19  At the end of section 60‑25
Add:

Community representatives
 (4) In appointing an individual as a *Board member, the Minister must be satisfied that the individual is a *community representative.
 (5) An individual is a community representative if the individual is not any of the following:
 (a) a partner in a partnership that is a *prescribed tax agent;
 (b) an *executive officer of a company that is a prescribed tax agent;
 (c) a former partner in a partnership that is currently a prescribed tax agent, if the individual is receiving regular and ongoing benefits, or has within the last 6 months received a material benefit, from the partnership;
 (d) a former executive officer of a company that is currently a prescribed tax agent if either of the following apply:
 (i) the individual is receiving regular and ongoing benefits, or has within the last 6 months received a material benefit, from the company;
 (ii) the individual holds *shares in the company.
 (6) A prescribed tax agent means a company or partnership that:
 (a) is a *registered tax agent or BAS agent; and
 (b) has more than 100 employees.
Note: A company or partnership whose registration as a registered tax agent or registered BAS agent is suspended remains a registered tax agent or BAS agent for the purposes of this section (see subsection 30‑25(4)).
 (7) An executive officer of a company means a director, secretary or senior manager (within the meaning of the Corporations Act 2001) of the company.