Document ID: chunk:federal_register_of_legislation:C2004A01334:clause:2_239ba
Version: federal_register_of_legislation:C2004A01334
Segment Type: clause
Provision Reference: sch 2 cl 239BA
Character Range: 259137–260920

239BA  Constitution of Financial Reporting Panel in relation to particular matters

 (1) The Financial Reporting Panel must, for the purposes of the performance or exercise of its functions or powers in relation to a particular matter, be constituted by 3 members in respect of whom a direction is in force under this section in relation to that matter.

 (2) The Chairperson may give directions about the members (the sitting members) who are to constitute the Financial Reporting Panel for the purposes of performing or exercising its functions or powers in relation to particular matters.

 (3) A direction under subsection (2) must:
 (a) unless the sitting members include the Chairperson—designate one of them as Chairperson; and
 (b) in any case—designate one of the sitting members as Deputy Chairperson;
of the Financial Reporting Panel as constituted in relation to the matter concerned.

 (4) If the Chairperson gives a direction as to the sitting members, he or she may:
 (a) revoke the direction and give a new direction under subsection (2) as to the sitting members; or
 (b) vary the direction to replace one or more of the sitting members;
at any time after the giving of the direction and before the commencement of proceedings in relation to the matter.

 (5) If:
 (a) the Chairperson gives a direction as to the sitting members; and
 (b) one of those persons:
 (i) ceases to be a member; or
 (ii) ceases to be available for the purposes of proceedings in relation to a matter;
  during the proceedings or after the completion of the proceedings but before the report on the matter to which the proceedings relate is finalised;
the Chairperson may vary the direction to replace that person at any time after the person so ceases to be a member or to be available.